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Naver Corp. has agreed to a strategic partnership with Nvidia Corp. and received a combined $10 billion investment commitment from Nvidia and Brookfield to build a global AI data center. The project aims to expand Naver's existing facility to 200 megawatts by 2028 and provide production-scale computing capacity for South Korean and U.S. AI developers.
President Lee Jae Myung declared a vision to position South Korea as a trustworthy production base and supply partner for AI semiconductors, unveiling the 'San Francisco AI Declaration' at a high-level meeting with global tech leaders. The meeting also saw agreements for $950 billion in cooperation projects, including a landmark SK Group semiconductor supply deal, and a separate MOU between South Korea's science ministry and AMD.
South Korean President Lee Jae Myung met with the heads of four global tech giants—including OpenAI, Nvidia, Anthropic, and Broadcom—during a two-day trip to San Francisco, urging greater participation in South Korea's AI investment plans. Lee highlighted the country's large-scale semiconductor and AI data center projects, while the executives expressed enthusiasm for cooperation.
President Lee Jae Myung met with Nvidia CEO Jensen Huang in San Francisco, where Huang announced a US$500 billion business partnership with SK Group, plans to jointly develop a self-driving Genesis sedan with Hyundai Motor Group, and a large-scale investment in Naver. The meetings are part of Lee's trip to promote AI cooperation between South Korea and global tech firms.
Two small U.S. businesses have filed a lawsuit against the Trump administration over new Section 301 tariffs imposed on dozens of trading partners. The suit, filed by the Liberty Justice Center, alleges the tariffs are arbitrary and unlawful. The new duties, including a 12.5% levy on Australian imports, took effect Friday.
US President Donald Trump has threatened the European Union with 'substantial' tariffs after the bloc fined Google nearly $1 billion for breaching competition laws. Trump announced a Section 301 trade investigation into EU practices, calling the fines 'illegal and highly unethical.' The EU has defended its actions, citing an investigation that found Google gave preferential treatment to its own services.
Countries worldwide have reacted to the latest US tariffs imposed under Section 301, which target 60 to 80 trading partners with duties of 10 to 12.5 percent. Australia, New Zealand, the EU, and China have rejected the forced-labor rationale, with China signaling it will hold off on retaliation.
The United States and Saudi Arabia have agreed on a civilian nuclear cooperation deal, but President Trump's late demand that Riyadh first normalize ties with Israel has complicated matters. While opponents in Israel criticize Prime Minister Netanyahu for the agreement, Trump's new condition has shifted the political landscape.
As President Xi Jinping's planned September visit to Washington approaches, Washington and Beijing have exchanged new trade and tech restrictions. Analysts view the measures as targeted pressure plays unlikely to derail the summit, though some warn of risks to the high-stakes meeting.
South Korea's veterans ministry announced plans to identify and honor more independence activists, award over 600 previously unrecognized patriots, and launch a special bill for the 2029 Invictus Games in Daejeon. Minister Kwon Oh-eul also highlighted expanded compensation for surviving spouses and descendants of veterans and activists.
The United States has imposed new tariffs of 10-12.5% on imports from 60 countries, citing inadequate enforcement of forced labor bans. The tariffs, set under Section 301, affect seven African nations, while Namibia is exempt. Reactions vary, with some small businesses seeing the new rates as manageable compared to previous tariffs.
As the White House pivots from an unpopular military campaign in Iran to a renewed tariff offensive, historical parallels and current analyses suggest the trade wars may not deliver the promised economic revival. With tariffs imposed on Brazil and dozens of other countries, experts question whether the strategy will achieve its goals or further strain global alliances.
South Korea has returned a pair of Qing dynasty stone lion statues to China at a ceremony in Seoul, marking a milestone in cultural exchange and a step toward repairing strained bilateral ties. The statues, purchased in the 1930s, will be displayed at a Chinese national museum after restoration.
South Korea's ruling Democratic Party has adopted as official party line a revision to the Criminal Procedure Act that would abolish prosecutors' authority to conduct direct and supplementary investigations. Justice Minister Jung Sung-ho offered his resignation amid the push, while President Lee Jae Myung is expected not to veto the bill.
Hyundai Motor's union has announced plans to extend partial strikes next week in pursuit of higher wages, raising concerns about production disruptions at South Korea's largest automaker. The union is demanding a 149,600-won monthly base pay increase, while the company has offered 80,000 won, amid failed negotiations.
The United States announced new tariffs ranging from 10% to 12.5% on 60 trading partners, including China, India, Japan, South Korea, and the European Union, over forced labor enforcement. The duties take effect Friday, replacing a temporary 10% global tariff that expires at the same time.
Seoul says Washington has reaffirmed the bilateral tariff agreement capping U.S. tariffs on South Korean goods at 15 percent, even as new Section 301 duties of up to 12.5 percent take effect. South Korea plans close consultations to preserve the ceiling.
President Lee Jae Myung will dispatch special envoys to the inaugurations of Peru's President-elect Keiko Fujimori and Colombia's President-elect Abelardo de la Espriella, aiming to strengthen bilateral cooperation and deliver personal letters outlining Seoul's vision for closer ties.
South Korea's government is stepping up measures to curb inflation as Middle East tensions threaten supply chains. Prime Minister Han Seong-sook ordered crackdowns on hoarding, while Finance Minister Koo Yun-cheol announced plans to revise the Price Stabilization Act. Recent data shows consumer prices rose 2.8% in July, easing from June's 3.2% increase.
President Lee Jae Myung completed an 11-day overseas trip that included meetings with tech giants in San Francisco, state visits to Brazil, Chile, and Argentina, and a stopover in Germany. He skipped his summer vacation to focus on what his office called 'sales diplomacy.'