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South Korea's new Trade Minister Park Jung-sung in his inaugural address pledged to manage trade risks with Washington as the global trade order transforms. He highlighted strategic investment negotiations with the U.S. as both a challenge and an opportunity, and outlined plans to bolster irreplaceable industries while fostering new growth sectors.
Global smartphone shipments are projected to fall by over 14% in 2026 due to soaring chip and memory costs, the sharpest annual drop on record, according to Counterpoint Research. Samsung is expected to overtake Apple as the top vendor, while Chinese manufacturers face the steepest declines.
Kakao Corp. announced plans to spin off its core businesses, including KakaoTalk, into two entities—KakaoAI and KakaoX—by January next year, aiming to strengthen AI capabilities and address a conglomerate discount. The move, approved by the board, saw shares fall over 7% as investors remain skeptical about AI monetization.
Former South Korean President Moon Jae-in departed for Mongolia on Sunday to attend the U.N. Convention to Combat Desertification COP17, where he will speak and meet Mongolian President Ukhnaa Khurelsukh. India's Environment Minister Bhupender Yadav also arrived in Ulaanbaatar to participate in the conference, which runs from August 17-28.
A Seoul court sentenced a Chinese national to 20 years in prison for leading a hacking scheme that stole over 38 billion won from victims, including BTS member Jungkook and a business tycoon. The court said the victims lost assets through no fault of their own, and noted the hacker showed no genuine remorse.
North Korea launched approximately 10 short-range ballistic missiles toward the East Sea on Thursday, a day after the US and South Korea announced scaling back their annual military exercises. The launch prompted emergency meetings in Seoul and trilateral consultations with the US and Japan, while Pyongyang dismissed the drill reduction as 'unworthy of comment.'
Netflix's new series 'Mousetrap' reimagines a Korean folktale about a mouse transforming into a person after eating nail clippings. Starring Ryu Jun-yeol in a dual role, the thriller follows a writer whose identity is stolen, with director Kim Hong-sun emphasizing the hunt for the rat as central to the plot.
A South Korean police officer has been placed under emergency arrest on suspicion of prematurely closing missing persons cases, including that of a woman still missing for over three months. Investigators discovered a second case involving a man later found dead, prompting scrutiny of police procedures and calls for systemic reform.
SK Hynix shares jumped more than 12% in Seoul after the company accelerated a large share repurchase and cancellation program aimed at boosting returns. The announcement came as rival Samsung Electronics saw its stock drop following a shareholder payout plan that analysts described as falling short of expectations. Both firms outlined substantial capital returns amid strong demand for memory chips used in artificial intelligence.
Genesis has unveiled the GV90 and GV90 Neolun at a world premiere in San Francisco. The flagship EV offers a 500-km range, a 123.5-kWh battery, and features the world's first roof airbag. The Neolun variant eliminates the conventional B-pillar with hidden structural reinforcements.
Samsung Electronics announced a Galaxy launch event for Aug. 27, expected to be held online and likely to unveil the Galaxy S26 FE. While the company hasn't explicitly named the device, its press release hints at a new addition to the Galaxy S26 family, with leaks pointing to specific specs and features.
South Korea has launched its first commercial container ship voyage through the Arctic, testing the route's viability as Middle East conflict disrupts traditional shipping lanes. The PanStar Acro, carrying 837 TEUs of cargo, is expected to take about 45 days to reach European ports, but the trip has sparked environmental and geopolitical concerns, including potential friction with Western allies over Russia's role.
Bangkok has been named the world's best city for a workcation in IWG's 2026 Work from Anywhere Index, with Mumbai making its debut as the only Indian city on the list. New research shows most hybrid workers value work-from-anywhere policies, with 90% reporting better work-life balance.
The US and South Korea have ended their annual Ulchi Freedom Shield exercises about a week early after President Donald Trump ordered the drills scaled back, citing his relationship with Kim Jong Un. The move drew criticism from North Korea and raised questions in Seoul about its implications for the alliance.
The United States and South Korea have agreed to end their annual Ulchi Freedom Shield exercise about a week early, following President Trump's order to scale back the drills. North Korea's Kim Yo-jong dismissed the reduction as insignificant, while political reactions in Seoul have deepened domestic divisions and tensions with Pyongyang.
The Ulchi Freedom Shield exercise between the US and South Korea ended six days early on Friday after President Trump ordered a substantial reduction, citing cost and the message it sent to North Korea. The move, seen as a conciliatory gesture, drew a cool response from Pyongyang and raised concerns among experts about defense readiness.
Hanwha Aerospace's U.S. unit won a contract to supply six K9-based prototypes for the U.S. Army's Mobile Tactical Cannon program, with an option for 12 more. The contract is valued at up to $262.9 million, and the company plans to invest $299 million in its U.S. subsidiaries to support expansion.
President Donald Trump has instructed aides to arrange a summit with North Korean leader Kim Jong-un this autumn, possibly during the APEC summit in Shenzhen in November, according to The Wall Street Journal. South Korean and U.S. diplomats held talks reaffirming close coordination on the North's nuclear issue, though neither side's readout mentioned denuclearization, amid concerns about Trump's approach.
Chinese Foreign Minister Wang Yi arrived in Seoul for talks with South Korean Foreign Minister Cho Hyun, calling on the US to change its 'hostile policy' toward North Korea. The visit follows President Lee Jae Myung's proposal for multiparty talks to formally end the Korean War.
North Korea's Kim Yo-jong dismissed the US decision to scale back joint military exercises with South Korea as meaningless, saying Pyongyang focuses on the fact that the drills continue. A KCNA commentary vowed to 'completely neutralize' military threats, while South Korea's unification minister expressed hope the reduction could open dialogue.