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South Korea's military has taken a North Korean soldier into custody after he crossed the heavily fortified border, in what is believed to be a rare defection. The incident marks the fourth such crossing since the Lee Jae Myung administration began last year, raising questions about border security and defection routes.
Lee Jung-hoo hit his fifth home run of the season, a career-long 414-foot blast, as the San Francisco Giants beat the Athletics 3-1. The South Korean outfielder raised his batting average to .331, second-best in MLB.
Two Korean American lawmakers emphasized their dedication to strengthening U.S.-South Korea ties, addressing economic challenges and regional security. Sen. Andy Kim and Rep. Young Kim spoke at separate events, with Kim highlighting shipbuilding investments and Young Kim calling for trilateral deterrence against North Korea, China, and Russia.
The United Nations Command has stated that North Korea's recent fencing and landmine operations along the inter-Korean border do not violate the Armistice Agreement, countering South Korea's claims. The UNC says the activities fall under 'Civil Administration' and are exempt as long as they remain north of the Military Demarcation Line without heavy weapons.
Two Yonhap reports from late June 2026 detail South Korean-operated vessels exiting the Strait of Hormuz after the U.S.-Iran ceasefire. One report says eight ships carrying 37 sailors left, reducing remaining ships to five; the other says four ships with 26 sailors left, with 18 remaining. Tehran has agreed to waive transit fees for 60 days.
Rep. Jung Chung-rae has resigned as chairman of South Korea's ruling Democratic Party, a move widely seen as a prelude to seeking re-election at the party's August national convention. The leadership contest is expected to include Prime Minister Kim Min-seok and former party leader Song Young-gil, with internal factional tensions already surfacing.
The Seoul International Book Fair opened Wednesday at COEX, expecting 150,000 visitors amid a 'text-hip' reading trend. The 68th edition features 538 exhibitors from 18 nations, with France as guest country of honor. First lady Kim Hea Kyung delivered a congratulatory speech at the opening.
MSCI has kept South Korea in its emerging markets index, citing limited won convertibility and unresolved accessibility issues. The finance ministry says it will continue reforms and hopes for watch-list inclusion later this year.
President Lee Jae Myung hosted foreign ambassadors and heads of international organizations for a dinner at Cheong Wa Dae, featuring Korean dishes and discussions of South Korea's foreign policy. The event highlighted recent diplomatic outcomes and included a halal-certified menu.
South Korean Prime Minister Kim Min-seok met with Chinese Premier Li Qiang on the sidelines of the Summer Davos Forum in Dalian, calling for elevated bilateral exchanges and China's constructive role in Korean Peninsula dialogue. Kim also met Chinese businesspeople in Beijing and attended the World Economic Forum meeting.
Seoul's appellate court upheld acquittals of former National Security Adviser Suh Hoon and former Coast Guard chief Kim Hong-hee over alleged involvement in a cover-up related to the 2020 death of South Korean fisheries official Lee Dae-jun. The court ruled that statements by the Moon administration, though 'rash,' did not constitute false information. The prosecution announced it will not appeal, finalizing the verdicts.
South Korea's benchmark KOSPI index plunged nearly 10 percent on Tuesday, triggering a circuit breaker for the fourth time this year, as foreign investors dumped semiconductor shares amid a global tech slump. The index rebounded sharply the following morning as individual investors went bargain hunting, with Samsung Electronics and SK hynix leading the recovery.
Prime Minister nominee Han Seong-sook has sold three of her four homes, leaving one in Seoul's Samcheong-dong, as she faces a two-day confirmation hearing marked by opposition criticism over property ownership and other controversies. The ruling Democratic Party, holding a parliamentary majority, is expected to approve her nomination despite concerns about the hearing's scrutiny.
President Lee Jae Myung urged the government to expand support for young people left behind by recent semiconductor and stock market booms, warning of widening asset disparities. He also unveiled plans for regional investment in advanced industries and measures to curb rising prices.
South Korean companies saw a sharp 13.5% on-quarter increase in sales in the first quarter of the year, with manufacturing leading the gains, according to Bank of Korea data. The operating profit-to-sales ratio jumped to 13.2%, while the average debt-to-equity ratio fell to 87%. The upbeat figures contrast with slower full-year 2025 sales growth, which was hampered by petrochemical oversupply and U.S. tariffs.
South Korea's Fair Trade Commission approved voluntary corrective measures worth 3 billion won proposed by Coupang Corp. and its private-label affiliate over unfair dealings with subcontractors. The approval comes amid separate proceedings involving allegations of market dominance abuse by Coupang and Woowa Brothers.
South Korea's bourse operator activated sell-side sidecars for the KOSPI multiple times amid sharp declines, suspending program trading for five minutes each time. The falls were driven by tech losses, Middle East tensions, and profit-taking.
Stray Kids will kick off their new world tour 'Run It' in Seoul next month with five concerts at the KSPO Dome, followed by a historic performance at Tokyo's National Stadium. The group will also release a new EP 'This & That' on Aug. 7, with the pre-release single 'Run It' dropping Wednesday.
South Korea has reached a broad consensus with the European Union regarding new steel import quotas that take effect July 1. The EU has reduced tariff-free quotas on 30 steel products, with South Korea's allocation set at 2.07 million tons. The government is rolling out support measures for local steelmakers to mitigate the impact.
The South Korean won saw mixed trading against the U.S. dollar this week, with Yonhap reporting gains on Thursday after Fed Chair Kevin Warsh's comments on inflation, but also losses on Tuesday and a further decline later that week amid foreign investor stock selling. The government signaled readiness to stabilize the foreign exchange market.