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Pai Chai High School's baseball team has been suspended for six months by the Korea Baseball Softball Association after players mocked opponents with references to a controversial Starbucks Korea promotion. The alumni association has pleaded for leniency, citing the impact on seniors' draft prospects.
A Seoul court has extended Homeplus' rehabilitation proceedings until September after the retailer appealed a decision to terminate them. The move follows a 200 billion won funding agreement backed by its largest creditor Meritz Financial Group and owner MBK Partners, while the government and banks have stepped in to support affected workers and suppliers.
A Seoul court reviewed an arrest warrant request for former Coast Guard chief Kim Jong-uk over allegations he aided former President Yoon Suk Yeol's failed martial law bid. A separate hearing was set for another former official, Ahn Sung-sik, accused of preparing detention facilities. The special counsel team listed charges of assisting an insurrection and abuse of power.
President Lee Jae Myung's approval rating rose to 54 percent in early July after hitting its lowest level in late June, according to Gallup Korea. The rebound was partly attributed to the government's 'three mega projects' initiative, though economic concerns still weighed on respondents.
The South Korean Navy has named a new 3,600-ton submarine 'Seo Hui' after a Goryeo-era diplomat and a new frigate 'Pyeongtaek' after a key port city. Both vessels are under construction and expected to be delivered in 2028 and 2027, respectively. In separate news, the Navy received the ROKS Gyeongbuk frigate, the second of its class, which will begin operational service after six months of training.
Seoul stocks opened higher and extended gains on Friday as investors bought bargain-priced semiconductor shares following the previous session's sharp sell-off. The KOSPI rose as much as 2.11 percent by late morning, buoyed by reports of AI startup Anthropic in talks with Samsung Electronics. Overnight, U.S. markets were mixed, with the Dow hitting a record high while the Nasdaq fell on semiconductor weakness.
Gen. Xavier Brunson, commander of U.S. Forces Korea, visited the Khaan Quest multinational peacekeeping exercise in Mongolia, emphasizing deeper cooperation among U.S. allies and partners. The exercise, involving troops from up to 18 countries, included field training and counter-unmanned aerial system drills, with South Korea's Marine Corps participating since 2006.
A White House official has accused South Korea of discriminating against U.S. e-commerce giant Coupang, saying the company is being 'singled out' by President Lee Jae Myung's administration. The remarks follow a House Judiciary Committee report alleging 'discriminatory attacks' on Coupang, while Seoul insists its investigations are lawful and non-discriminatory.
South Korea's foreign reserves increased to $427.36 billion in June, reversing a May decline, as financial institutions' foreign currency deposits rose. The Bank of Korea attributed the gain to such deposits despite ongoing market stabilization efforts, while the won remained weak.
Kang Chang-il, vice chair of South Korea's Peaceful Unification Advisory Council, called on both Koreas to refer to each other by their official names, echoing religious leaders' plea. The unification ministry said it views the growing calls as part of a broader effort to build public consensus. The council also expanded its membership to 25,000 advisers.
South Korea's Supreme Court upheld a seven-year prison term for former President Yoon Suk Yeol on charges of obstructing justice by blocking investigators from detaining him after his 2024 martial law declaration. The ruling, delivered live despite Yoon's absence, marks the top court's first decision among eight trials he faces. Additional charges included abuse of power and falsifying public documents.
South Korea's foreign ministry and ruling party have expressed regret over a U.S. House Judiciary Committee report accusing Seoul of discriminatory treatment of Coupang. Officials defend the legal case against the e-commerce giant as lawful and non-discriminatory, while the report claims South Korea's actions violate a bilateral trade agreement.
South Korea's Marine Corps conducted regular live-fire drills on islands near the inter-Korean maritime border, involving K9 howitzers and Chunmoo rocket systems. The drills, which are defensive in nature, took place on Baengnyeong and Yeonpyeong islands, with troops firing around 330 rounds into surrounding waters.
The Doosan Bears have signed temporary starter Wes Benjamin to a full contract through the remainder of the KBO season and acquired infielder Yunior Severino as their new foreign hitter, following the releases of Chris Flexen and Daz Cameron.
South Korean parliamentary investigators entered a vote counting venue in Seoul on Thursday, ending a 27-day blockade by protesters demanding a rerun of the June 3 local elections. Police cleared the entrance and deployed around 2,000 personnel after scuffles broke out among demonstrators, and one protester reportedly collapsed.
President Lee Jae Myung announced a 392 trillion-won industrywide investment to transform the central Chungcheong region into a global center for AI-led innovation, with major companies including Samsung and SK hynix committing to new fabs and facilities. The government framed the plan as a strategic push for national competitiveness, though critics have accused officials of pressuring conglomerates.
South Korea's pharmaceutical exports exceeded $10 billion for the first time last year, driven by biopharmaceuticals and biosimilars. In the first half of this year, biopharmaceutical exports hit a record $4.5 billion, with strong demand from Switzerland and the United States.
South Korea's top officials, including President Lee Jae Myung and Prime Minister Han Seong-sook, have identified inflation as the government's foremost challenge, with consumer prices surging to multi-year highs. The government is mobilizing all available tools to stabilize prices and shield vulnerable populations from energy-driven cost increases amid Middle East conflict fallout.
Seoul stocks opened sharply lower on Thursday, tracking an overnight selloff in U.S. semiconductor shares, with the KOSPI initially falling 4.46 percent before paring losses. Investors weighed remarks from Federal Reserve Chair Kevin Warsh on easing inflation expectations, while Hanwha Group affiliates outperformed on a major defense contract.
Hanwha Ocean has been chosen as the preferred bidder for South Korea's next-generation Navy destroyer project, valued at 7.8 trillion won (US$5.1 billion). The company beat rival HD Hyundai Heavy Industries for the KDDX program, which aims to build six domestically developed Aegis destroyers. The selection follows a two-year legal dispute over stolen designs and a change to open competitive bidding.