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South Korea's industry ministry says the country's crude oil supply remains stable despite Middle East tensions, with reserves covering 110 percent of last year's levels for July and August and 90 percent for September. Separately, a South Korean oil tanker successfully transited the Red Sea, marking the 14th crude oil shipment to use the route.
South Korean Defence Minister Ahn Gyu-back is facing allegations that he deserted his military unit in the 1980s, with his accuser claiming he was arrested by military police and served additional time. The minister and the defence ministry deny the claims, attributing discrepancies in his military record to administrative errors.
Three Korean films by directors Yeon Sang-ho, Lee Chang-dong, and Hur Jin-ho have been invited to screen at this year's Toronto International Film Festival. Yeon Sang-ho's 'Paradise Lost' and Hur Jin-ho's 'The Assassin(s)' will have their world premieres, while Lee Chang-dong's 'Possible Love' will have its North American premiere. Additionally, Lee Chang-dong will receive the TIFF Ebert Director Award at the festival's Tribute Awards ceremony on Sept. 13.
Seoul shares opened higher on Tuesday, then reversed losses and later rallied, as investors weighed a technology-led bargain hunt against renewed Middle East tensions. Yonhap reported the KOSPI moving from a 0.58% opening gain to a 0.59% decline, before recovering to a 2.29% rise, amid Trump's threat to Iran and Saudi Arabia's protective steps.
South Korean authorities issued flood warnings for the Imjin River after North Korea appeared to release water from the Hwanggang Dam without prior notice, causing water levels to surge. The environment ministry confirmed the release via satellite imagery, and the unification ministry urged joint disaster response while citing severed communication channels.
The Korean Sport & Olympic Committee cut a six-month ban on Pai Chai High School's baseball team to one month, allowing the team to compete in a major national tournament. The ban followed chants linked to a controversial Starbucks promotion that critics said mocked the 1980 Gwangju uprising. Police had signaled they expected to drop an insult case after the rival team declined to seek punishment.
The South Korean won has shown resilience against the U.S. dollar, edging higher on several trading days despite geopolitical risks. Analysts attribute the strength to dollar-selling by exporters and SK hynix's conversion of proceeds from its U.S. listing into won.
South Korean Foreign Minister Cho Hyun will meet with U.S. Secretary of State Marco Rubio and Japanese Foreign Minister Toshimitsu Motegi in Manila this week to discuss North Korea, trilateral security, economic cooperation, and the Middle East crisis. The meeting follows earlier talks on the sidelines of the NATO summit, where the ministers reaffirmed their commitment to denuclearization and signed a memorandum on small modular reactors.
At the 48th session of the World Heritage Committee in Busan, UNESCO officials called for a global awakening to safeguard cultural and natural heritage from climate change and armed conflicts. The committee adopted the Busan Declaration, proposing collaboration as a sixth strategic objective, while the K-Heritage House pavilion drew over 52,000 visitors.
South Korea's special counsel team has accused the National Intelligence Service of actively cooperating in former President Yoon Suk Yeol's failed martial law bid, citing instructions to establish communication channels and dispatch officials. The NIS is also suspected of preparing a list of hundreds of 'security threats'.
South Korea's Daejeon has been chosen to host the 2029 Invictus Games, becoming the first Asian city to stage the international sporting event for injured service members. The Invictus Games Foundation selected Daejeon over Aalborg and San Diego, citing the city's preparedness and cultural appeal.
South Korean stocks closed more than 4% lower Monday, driven by renewed concerns over global AI infrastructure spending and escalating Middle East tensions. The KOSPI plunged 304.33 points, with institutional investors leading the sell-off.
South Korea's acting police chief has pledged to overhaul the police investigation system following controversy over the alleged mishandling of a murder case in Gwangju, including the launch of a reform task force and an internal corruption unit.
South Korea's National Assembly approved an extension of a comprehensive special counsel investigation into former President Yoon Suk Yeol, first lady Kim Keon Hee, and the death of a Marine. The bill, passed unanimously, extends the probe by 30 days and increases staffing, despite a filibuster by the main opposition party.
A massive fire at a Coupang warehouse in Incheon, South Korea, was fully extinguished Wednesday after burning for about 109 hours. The blaze forced the evacuation of hundreds of residents and injured two firefighters, marking the country's second-longest warehouse fire on record.
President Lee Jae Myung's approval rating edged down to 48.4 percent this week, according to a Realmeter poll, ending a two-week rise. The pollster attributed the decline to a series of negative factors, including a central bank rate hike and a stock market drop.
The KT Wiz have overtaken the LG Twins to claim second place in the KBO, riding a seven-game winning streak. The Twins, who led the league at the start of July, have dropped 11 of 16 games and now trail the Samsung Lions by five games. Meanwhile, the Wiz have moved within two games of first place and continue their push upward.
The 2026 FIFA World Cup final featured the first-ever halftime show, with BTS, Madonna, Shakira, and Justin Bieber performing. The show, the longest in World Cup history, boosted streaming numbers for the artists, with Bieber's 'Everything Hallelujah' up 110%.
South Korea's media watchdog is considering a proposal to restrict children under 14 from creating social media accounts without parental consent, and limit addictive features for teenagers aged 14 to 19. The plan, announced by Korea Communications Commission Chairman Kim Jong-cheol, aims to address excessive social media use and its harms, while learning from the country's past 'shutdown law' experience.
UNESCO's World Heritage Committee convenes in Busan for its 48th session, marking South Korea's first time hosting the event. Around 3,000 participants from 196 member states will review 33 proposals, including an extension of South Korea's Getbol tidal flats and a draft decision on Japan's Sado mine. Opening ceremonies featured President Lee Jae Myung and K-pop star G-Dragon.