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South Korean forces nearly engaged a US reconnaissance drone flying near the inter-Korean border, mistaking it for an enemy aircraft. Both Seoul and Washington are investigating the incident, which has drawn political criticism and highlighted potential gaps in allied communication protocols.
South Korea will launch a three-month special crackdown on drugs starting this weekend, focusing on foreign smuggling, drug use at bars and clubs, and illegal circulation of medical-purpose drugs like ketamine. Authorities reported 5,203 drug offenders apprehended in the first half of 2026, a 7.8% increase from the previous year, with over 60% of offenders in their 20s and 30s.
South Korean stocks traded nearly 13% higher Friday morning, driven by semiconductor shares after Microsoft's strong earnings report eased AI spending fears. The KOSPI recovered some of its sharp losses after a three-session sell-off.
South Korean President Lee Jae Myung met Argentine President Javier Milei in Buenos Aires, agreeing to deepen cooperation on critical minerals and crude oil imports. The visit marks the first by a South Korean president in 22 years and concludes a three-nation South America tour.
South Korea's finance minister has pledged preemptive measures against energy supply disruptions and market volatility, while defending the country's economic fundamentals. The government raised its 2025 growth forecast to 3% amid record exports, but faces criticism over policy missteps linked to stock market swings.
Michelle Park Steel, the new U.S. ambassador to South Korea, arrived in Seoul on Thursday and called for a 'results oriented' and 'forward leaning' alliance, while progressive civic groups protested her appointment. Steel, the first U.S. envoy under Trump's second term, faces pending security, trade, and technology issues.
LG Twins starter Im Chan-kyu earned his 10th win of the season as the Twins defeated the Kiwoom Heroes 5-3, securing their first series win since the All-Star break. Im, who had been struggling amid the team's losing streak, became emotional after the victory, saying he felt guilty about the team's recent slump.
South Korea's industrial output rose 2.3% in June from May, snapping two months of decline, led by strong automobile and semiconductor production. Retail sales and facility investment also gained, indicating a broad improvement in economic activity.
Sarah Rogers, nominee to lead the U.S. Agency for Global Media, told a Senate hearing that free information can transform closed societies, citing North Korean defectors. She pledged to expand USAGM into new media formats and keep Asia a top priority, while also sharpening the agency's challenge to China's propaganda.
SK Group Chairman Chey Tae-won purchased 3,620 shares of SK hynix in the open market, his first such move, valued at around 4.8 billion won. The purchase comes as the chipmaker's shares have fallen by more than half from a record high, despite nearly tripling since the start of the year. Chey has previously expressed confidence in the long-term prospects of memory chips.
The Korea Football Association has begun accepting applications for a temporary head coach for the men's national team, with a deadline of Aug. 9. The caretaker staff will lead the team through two FIFA international match windows, and the vacancy follows Hong Myung-bo's resignation after the World Cup group-stage exit.
Seoul shares fell by more than 1% on Thursday after two sessions of deep losses, with retail investors dumping tech stocks amid lingering concerns about AI spending and the Federal Reserve's interest rate outlook. The KOSPI closed at 5,593.56, down 1.23 percent, and the Korean won strengthened against the dollar, according to Yonhap News.
South Korean military officials identified an unmanned vehicle detected near the inter-Korean border as a U.S. military drone involved in a training exercise. The incident triggered a brief shelter advisory in Cheorwon as military procedures were followed, with authorities noting the drone's planned flight path may not have been shared with South Korean units.
South Korea's ruling Democratic Party is set to vote on a bill that would strip the prosecution of its direct investigative powers, as the main opposition People Power Party's filibuster nears its 24-hour mark. The bill is part of broader prosecution reform efforts, alongside a separate measure to shorten the review period for fast-tracked bills.
Former Korea Football Association president Chung Mong-gyu and ex-head coach Hong Myung-bo faced intense questioning from lawmakers over the KFA's opaque management and South Korea's early World Cup exit. The hearing also highlighted a controversial text exchange between Chung and an opposition lawmaker, prompting accusations of potential lobbying.
President Lee Jae Myung's approval rating has dipped to 53 percent, the lowest in a National Barometer Survey since his inauguration, according to a Yonhap report. The poll also shows disapproval rising to 37 percent, and a majority expressing dissatisfaction with real estate policies.
South Korea's military is inspecting front-line Army corps after the 1st Corps was found to have used unloaded K6 machine guns and K4 grenade launchers during guard duty. The Army Ground Operations Command has ordered all crew-served weapons at border posts to remain loaded.
Sony's 'Spider-Man: Brand New Day' has set multiple box-office records in South Korea, becoming the fastest film of 2026 to reach 1 million and 2 million admissions, and topping the weekend chart with over 3 million attendees in four days. The fourth Spider-Man installment starring Tom Holland also posted the year's biggest opening day, drawing 688,000 moviegoers.
The US Federal Reserve held interest rates steady for the fifth consecutive meeting, with a split vote and dissenting governors favoring a hike. South Korea's central bank and finance ministry expressed concerns over persistent inflation, Middle East tensions, and risks to financial markets.
South Korea's ruling Democratic Party is pushing forward with legislation to abolish the prosecution's direct investigative authority, including a bill to mandate full recording of investigations. The main opposition People Power Party is expected to filibuster the measures as the bills move through the National Assembly.