Location · 1348 published stories · 102 outlets · All places
Samsung Group and SK Group announced a combined investment of 896 trillion won in South Korea's southwest region, aligned with the government's AI-driven regional development initiative. The plans include new semiconductor fabs, AI data centers, and government support under the S-WEST Vision.
South Korean stocks closed nearly 1 percent higher on Tuesday, led by technology shares, as investors monitored possible U.S.-Iran talks in Qatar. The KOSPI rose 81.83 points to 8,476.47, while the won weakened against the dollar and bond yields fell.
South Korea has postponed the planned launch of its solid-fuel Mir space rocket due to safety concerns, as disclosed by the defense ministry and reported by Yonhap. The rocket was slated to liftoff from a barge off Jeju Island, and a new date has yet to be set. The postponed launch would have been the first test of the rocket's full four-stage configuration.
South Korea's National Assembly approved the confirmation motion for Prime Minister nominee Han Seong-sook on Tuesday, with the ruling Democratic Party using its parliamentary majority to push the appointment through over a boycott by the main opposition People Power Party. Han, a former CEO of Naver, will become the country's second female prime minister.
Outgoing South Korean Prime Minister Kim Min-seok has pledged to back President Lee Jae Myung's administration as he prepares to run for leader of the ruling Democratic Party. The move comes amid declining approval ratings for the president and the party, and an intensifying factional feud within the party.
South Korea's Kwon Soon-woo was eliminated from Wimbledon in the second round, losing to Tommy Paul in straight sets. Kwon had earlier won his opening match against Martin Landaluce, marking his return to the tournament after a two-year absence.
South Korea and Mongolia have reached an agreement in principle on a Comprehensive Economic Partnership Agreement (CEPA), aiming to expand trade and investment. The pact includes tariff eliminations on key goods and marks Mongolia's second bilateral free trade agreement.
President Lee Jae Myung announced that all but two South Korean-operated vessels have left the Strait of Hormuz, following a preliminary US-Iran deal. He cautioned that the crisis is not over and called for continued crisis management.
South Korea plans to downgrade its resource security crisis warning for crude oil to Level 2 and fully lift the natural gas alert, citing stabilized global oil prices amid US-Iran peace talks. The government will also end the vehicle rotation system.
Hyundai Motor has opened the Suwon Hi-Tech Center in Gyeonggi Province, featuring automated maintenance systems and autonomous robots to reduce customer waiting times. The facility supports data-driven diagnostics, while company officials signal plans to launch new models to address weak domestic demand.
The South Korean won weakened to a fresh 17-year low against the U.S. dollar on June 30, as foreign investors continued selling local stocks. Despite the currency's slide, the KOSPI rose, and analysts noted pressure from a strong dollar and a weak yen. Later in July, the won showed signs of recovery as foreign buying resumed.
Yonhap reported South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street as easing Middle East tensions boosted investor sentiment. The KOSPI was up 0.68% at the open, before paring gains to 0.11% by 11:20, with major stocks showing mixed moves and battery shares falling.
South Korea's industrial output fell 0.3 percent in May, driven by a 10 percent decline in semiconductor production, which officials attribute to base effects and volume adjustments. Retail sales edged up 0.1 percent, while facility investment dipped slightly.
South Korea's national football team returned home to a divided reception: head coach Hong Myung-bo faced boos and anger after resigning following the team's early World Cup exit, while captain Son Heung-min was greeted with encouragement from supporters. The government has announced an audit into the Korea Football Association's operations.
US petrol prices have fallen to an average of $3.86 per gallon, according to the AAA, as US-Iran peace talks continue amid ongoing clashes in the Strait of Hormuz. Oil markets remain volatile, with prices surging after President Trump announced fresh strikes against Iran, while the president's economic claims draw mixed reviews.
Ship tracking data shows a sharp fall in commercial transits through the Strait of Hormuz after Iran announced it was closing the waterway again, with reports of vessels slowing or halting. The US Central Command disputes closures and says it has helped over 800 vessels transit since early May.
President Lee Jae Myung announced a massive investment initiative to boost South Korea's semiconductor, physical AI, and AI data center sectors, including an 800 trillion-won plan from Samsung and SK Group. The government also revealed plans to invest over a quadrillion won in AI data centers by 2035. Opposition parties criticized the regional focus, but Lee dismissed the claims.
South Korean and East Timorese foreign ministers met in Seoul and agreed to broaden cooperation in climate change, infrastructure, human resource development, and other areas. The visit marked the first official trip by an East Timorese foreign minister since 2002.
The South Korean won has plunged to its weakest level in 17 years against the U.S. dollar, driven by foreign investors selling off local stocks and renewed Middle East tensions. The currency has fallen nearly 6% this year, with the exchange rate breaching 1,500 won per dollar.
The KBO announced 26 All-Star reserves, with 20 first-time selections, including Ryu Hyun-jin and the only Asian quota player, Yuto Kanakubo. The game will be played July 11 at Jamsil Baseball Stadium in Seoul.