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South Korea's first investment project in the United States under a bilateral trade deal is likely to be a combined cycle power plant, according to government sources. Industry Minister Kim Jung-kwan said talks with the U.S. are in the final phase, with an announcement possible as early as late August or September.
A special counsel team has requested prison sentences ranging from 18 to 30 years for six former military commanders over their alleged roles in former President Yoon Suk Yeol's 2024 martial law declaration. The requests include an 18-year term for a former special forces commander and 20- to 30-year terms for five other commanders, all accused of involvement in the failed bid.
South Korean stocks crashed more than 10% on Tuesday amid growing skepticism over tech giants' heavy AI investments, with the KOSPI closing at 6,023.66 after triggering a marketwide circuit breaker. Foreign investors offloaded a net 4.97 trillion won, while analysts attributed the drop to prolonged market concerns ahead of big tech earnings.
South Korean stocks plunged more than 10% on Tuesday, with the KOSPI closing at its lowest level since April, as investors dumped chip stocks amid mounting doubts about heavy spending on AI. The sell-off extended into Wednesday, prompting trading halts and raising concerns about global tech valuations.
South Korea's total population inched up in 2025, driven by record immigration amid low birth rates. The census also showed an aging population, a declining working-age share, and separate data on newlywed relocation patterns.
National Assembly Speaker Cho Jeong-sik reaffirmed his commitment to constitutional revision, proposing restrictions on presidential martial law powers and incorporating the spirit of the 1980 May 18 pro-democracy movement. He vowed to form a bipartisan committee next year and complete amendments before 2028.
South Korea's top financial regulator has vowed to consider additional measures to dampen demand for single-stock leveraged ETFs, which have been blamed for market volatility. The move follows President Lee Jae Myung's call for prompt complementary measures, as the government raises minimum deposit requirements and weighs portfolio caps.
South Korea's Ryu Hae-ran aims to become the fifth golfer in LPGA history to win three majors in a single season at the AIG Women's Open in England. The 25-year-old has won the last two majors and will face world No. 1 Nelly Korda, who leads the Annika Major Award race.
North Korea held a commemorative parade and leader Kim Jong-un visited war cemeteries to mark the 73rd anniversary of the Korean War armistice, which the country observes as Victory Day. State media reported the events, with Kim accompanied by his wife and daughter at the cemetery visit.
South Korean President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva agreed to revive stalled free-trade negotiations between Seoul and the Mercosur bloc, establishing a joint working group to prepare for formal talks. Analysts caution that skepticism remains strong in Latin America, with calls for tangible commitments from South Korea.
The People Power Party's ethics committee has initiated disciplinary proceedings against three lawmakers over allegations including interference in a leadership election, supporting an independent candidate, and using violence against the floor leader. The committee will review possible measures ranging from expulsion to warnings.
South Korea's Presidential Committee on Popular Culture Exchange announced a new international music festival in Los Angeles set for May 2028, along with a domestic awards show in Seoul and Goyang in December 2027, aiming to rival Coachella and boost cultural tourism.
Iran and the United States have paused their attacks, offering a respite for Gulf shipping and oil markets. Oil prices fell sharply on Monday as investors reacted to the reduced hostilities, while US envoy Mike Waltz said President Trump was giving talks 'some space'.
Michelle Steel, the new U.S. Ambassador to South Korea, arrived in Seoul this week, marking the end of a 1.5-year vacancy in the post. Her arrival comes as the two allies face a series of pending issues, including implementing bilateral agreements on security, trade, and investment. Steel, a Korean American, has emphasized strengthening the alliance as her top priority.
Hanwha Ocean's Q2 net profit quadrupled to 692.6 billion won on high-value ship orders and a weak won, while HD Hyundai's net profit rose over fivefold to 3.17 trillion won.
South Korean stocks closed nearly 1% higher on Monday, driven by a US pause in strikes on Iran that eased Middle East tensions, a drop in oil prices, and a $950 billion tech cooperation agreement between South Korean and US companies.
South Korean authorities have launched a committee to overhaul police investigation practices following allegations of misconduct in a Gwangju murder probe. Interior Minister Yun Ho-jung apologized on behalf of the government and outlined reforms including a rotational assignment system. Police aim to expand the system in the first half of next year amid efforts to restore public trust.
A consortium led by former South Korean MLB pitcher Park Chan-ho has invested $70 million in the Athletics, with $55 million completed and $15 million pending league approval. Park will serve as senior adviser to owner John Fisher, focusing on player development and Asia strategy. The consortium includes actors Ken Jeong and Daniel Dae Kim.
South Korea's main opposition People Power Party has asked Rep. Kwon Young-jin to voluntarily leave the party after he grabbed floor leader Jeong Jeom-sig by the collar during a protest over committee chair assignments. The supreme council warned of possible expulsion if he refuses, while Kwon has apologized for his actions.
South Korea's foreign currency deposits increased for the third consecutive month in June, driven by higher dollar savings, according to central bank data. U.S. dollar deposits rose while euro and yen deposits fell. Separately, the country's money supply grew at the fastest pace in nine months in May.