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South Korea's consumer prices rose 3.2 percent in June, the sharpest increase since December 2023, driven by higher fuel and food prices. The government and central bank are responding with measures to stabilize prices, with expectations of easing in July.
Guatemalan Foreign Minister Carlos Ramiro Martinez, during a visit to Seoul, emphasized his country's commitment to joining the Korea-Central America Free Trade Agreement, which he said would boost bilateral trade and investment. The two countries' foreign ministers also discussed expanding development cooperation in climate change and public administration.
Newly appointed Prime Minister Han Seong-sook and President Lee Jae Myung have both ordered thorough safety measures ahead of expected heavy downpours in southern regions, including Jeju Island. The directives focus on evacuation readiness, monitoring vulnerable areas, and local government coordination.
North Korean leader Kim Jong Un sent a congratulatory message to Chinese President Xi Jinping on the 105th anniversary of the Chinese Communist Party, reaffirming ties. Xi replied vowing long-term stable relations. The exchange follows their June summit in Pyongyang and precedes the 65th anniversary of the bilateral treaty.
South Korean stocks closed 2.04% lower on Wednesday as investors locked in gains from recent AI-driven semiconductor rallies, while uncertainty over U.S.-Iran peace talks weighed on sentiment. The KOSPI fell 173.07 points to 8,303.41, and the won weakened against the dollar despite record June exports.
President Lee Jae Myung met with former President Moon Jae-in and the new floor leadership of the ruling Democratic Party, urging unity amid factional tensions ahead of a national convention. Lee also sought swift passage of key legislation and reaffirmed a reconciliatory approach to North Korea.
New South Korean Prime Minister Han Seong-sook took office on July 1, pledging to help the government keep pace with the private sector and implement timely policies. She also named former lawmaker Chae Yi-bae as her chief of staff, citing his economic expertise to support her agenda on AI and green transformation.
South Korea's Fair Trade Commission has launched formal proceedings against Google over its Games Velocity Program, alleging the company abused its dominance in the Android app market by offering incentives to major game developers in exchange for preferential treatment. Google denies wrongdoing and has eight weeks to respond, with a potential fine of up to 849.6 billion won.
A South Korean parliamentary special committee investigating ballot shortages during the June 3 local elections conducted its first on-site inspection, entering a barricaded venue with police clearing protesters and one arrest. The committee confirmed ballot boxes remained in storage and plans further hearings in July.
President Lee Jae Myung has started a new round of policy briefings with all government ministries and agencies, emphasizing the need for reform and innovation. The briefings, covering 140 bodies over nine sessions, will be livestreamed and include public observers.
South Korean stocks gave up early gains on Wednesday morning as investors offloaded semiconductor and large-cap tech shares, with the KOSPI falling 3.21 percent. The decline followed a downgrade of emerging-market equities by BlackRock, while U.S. stocks closed higher overnight on a continued chip rally.
South Korea's Defense Minister Ahn Gyu-back has reiterated the need to consolidate the Army, Navy, and Air Force academies into a single institution, citing the need to break down service silos and address demographic challenges. Alumni associations and retired brass have called on the government to halt the plan, arguing it is being pushed without sufficient review and risks undermining military expertise.
Prime Minister Kim Min-seok left office on July 1, urging civil servants to prioritize people's lives and the vulnerable, as he prepares to run for leader of the ruling Democratic Party. Han Seong-sook, former Naver CEO, was approved by the National Assembly and sworn in as his successor.
Doosan Bears right-hander Choi Min-seok has posted an 8-2 record and 2.39 ERA in his second KBO season, placing among the league leaders. The young starter says he feels ahead of the timeline he set for himself after a strong June. Separate Yonhap reporting also covered an SSG Landers victory that ended a long skid.
South Korea's exports exceeded $100 billion in a single month for the first time, surging 70.9% year-on-year to $102.25 billion in June, driven by strong semiconductor demand and AI investments, according to the Ministry of Trade, Industry and Energy.
Shota Iimura, the Lotte Giants' new Japanese pitcher, is having fun in the KBO despite a rough start. The 28-year-old signed as the team's Asian quota player and has impressed manager Kim Tae-hyoung with his energy and potential.
Doosan Bears shortstop Park Chan-ho broke out of a hitting slump with a home run and four RBIs to lead his team to a 5-0 win over the Lotte Giants in the KBO. Choi Min-seok pitched six shutout innings as the Bears improved to 39-38-2.
South Korea's ruling Democratic Party and main opposition People Power Party failed to reach an agreement on forming parliamentary standing committees, leading the DP to unilaterally elect committee chiefs and the PPP to boycott the plenary session. The dispute centers on the chairmanship of the judiciary committee, with the PPP claiming customary practice gives it to the second-largest party.
South Korea is considering sending a disaster relief team to Venezuela, with foreign ministry officials closely monitoring the situation. Seoul has pledged $5 million in humanitarian aid and announced an additional $3.5 million package, while casualty figures vary widely across reports.
Hong Myung-bo stepped down as head coach of South Korea's men's national football team following the team's failure to advance from the group stage at the 2026 World Cup. President Lee Jae-myung called for an investigation into the team's performance, citing organizational failures.