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President Lee Jae Myung announced plans to create a 'future response fund' using additional tax revenue from the semiconductor boom, targeting youth, regional development, and education. The government also outlined a record spending plan exceeding 800 trillion won, raising concerns about inflation and asset prices.
President Lee Jae Myung announced plans to create a 'future response fund' using extra tax revenue from the semiconductor boom, aiming to invest in future industries, support younger generations, and address inequality. The fund will back the government's 'three megaprojects' in semiconductors, physical AI, and AI data centers.
North Korean leader Kim Jong-un convened a rare joint meeting of the party, government and army to denounce former major general Pak Hui-chol over corruption. Analysts see the public purge as a warning to generals about their economic power.
South Korea's Tom Kim claimed his first PGA Tour title in 33 months at the Genesis Scottish Open, finishing two strokes ahead of Min Woo Lee. His victory lifted him 33 spots in the world rankings to No. 33, while compatriot Kim Si-woo rose to No. 21.
South Korean stocks have experienced volatile trading sessions late last week and this week, driven by escalating Middle East tensions and uncertainty over AI-related valuations. The KOSPI has swung between sharp losses and gains, with chipmakers leading declines.
Financial Supervisory Service Governor Lee Chan-jin has called on asset managers and virtual asset operators to strengthen internal controls and consumer protection amid market volatility, while warning retail investors about the risks of leveraged investments, including single-stock leveraged ETFs.
South Korea's exports rose 52.3% in the first 20 days of July year-on-year, following a 53.9% increase in the first 10 days, according to Korea Customs Service data reported by Yonhap News.
A Seoul court has sentenced former South Korean President Yoon Suk Yeol to two years in prison for partially accepting illegal political funds in the form of free opinion polls from a self-proclaimed power broker. The ruling diverges from the acquittal of his wife, former first lady Kim Keon Hee, on similar charges. Yoon, who denies the allegations, is also appealing a life sentence for insurrection related to his 2024 martial law declaration.
South Korea's Ryu Hae-ran captured her second consecutive LPGA major at the Amundi Evian Championship, defeating Brooke Henderson in a playoff. The victory lifted her to a career-best world ranking of No. 3.
South Korea issued its first-ever 'grave heat wave' warnings for the southeastern cities of Gyeongsan and Pohang under a new alert system introduced last month. Temperatures soared to 39.9°C in Gyeongsan and 37.2°C in Pohang, prompting authorities to urge residents to avoid outdoor activities.
Vice Adm. Jeffrey Jablon, deputy commander of the U.S. Pacific Fleet, expressed satisfaction with South Korea's role in the RIMPAC exercise, where Rear Adm. Kim In-ho serves as maritime component commander—a first for an Asian nation. Rear Adm. Suzanne Bailey also highlighted the milestone for the U.S.-South Korea alliance.
The South Korean Navy has recovered the body of a sailor who went missing during a patrol mission in the East Sea. The sailor, a seaman apprentice, was reported missing on Sunday morning off the coast of Gangwon Province, prompting a joint search with the Coast Guard.
South Korea is accelerating plans to relocate a military airport in Gwangju to make way for a semiconductor production cluster, with Muan County named a preliminary candidate site. The U.S. military has signaled it has important interests at the base, while chipmakers Samsung and SK hynix plan to invest 800 trillion won.
North Korean Premier Pak Thae-song visited China from July 10 to 12 to mark the 65th anniversary of the Sino-North Korean Treaty of Friendship, Cooperation and Mutual Assistance. During the visit, he met with Chinese President Xi Jinping and Premier Li Qiang, with both sides emphasizing strategic resilience and expanding bilateral cooperation.
President Lee Jae Myung returned to Seoul after attending the NATO summit in Ankara and a state visit to Mongolia, during which he held summits with Romanian and Mongolian leaders, proposed a Korea-NATO Defense Industry Partnership 2.0, and agreed to launch negotiations on a procurement framework agreement with NATO.
President Lee Jae Myung attended the NATO summit in Ankara and agreed with the alliance to begin negotiations on a procurement framework agreement. Seoul is seeking to expand arms exports to European NATO members amid rising defense spending in Europe.
SK hynix listed American depositary receipts on the Nasdaq, raising about 40 trillion won ($26.5 billion) to fund domestic chip facilities. The listing, one of the largest U.S. equity offerings by a foreign company, is expected to broaden its global investor base and may affect the Korean won.
President Lee Jae Myung likened South Korea's pioneering spirit to Mongolia's nomadic spirit, saying the resemblance drives bilateral friendship and understanding. He also called for expanded cooperation during a visit to Ulaanbaatar, highlighting the vibrant Korean town as a bridge between the nations.
South Korean stocks rose for a second consecutive session, with the KOSPI adding 2.52% as semiconductor shares rallied on overnight Wall Street gains. The local currency strengthened against the dollar, while bond yields slipped.
South Korea's Supreme Court will deliver its verdict on July 16 in the corruption case against former first lady Kim Keon Hee, who faces charges including stock price manipulation and bribery. The ruling follows appeals from both Kim and the special counsel team against a four-year prison sentence handed down in April.