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South Korean stocks opened higher Thursday, led by a tech rally boosted by Alphabet's better-than-expected earnings. The KOSPI climbed over 3 percent in early trading, while the Korean won strengthened against the U.S. dollar. U.S. stocks had closed lower amid Middle East tensions.
South Korea's economy expanded 0.6% in the second quarter, beating the Bank of Korea's forecast, driven by robust exports and steady domestic demand. Analysts see sustained momentum, while expectations grow for a possible rate hike. Real gross domestic income surged 15.6% on-year, the highest in decades.
U.S. President Donald Trump warned that the United States will bomb an Iranian bridge or power plant if Iran fires at a vessel in the Strait of Hormuz. He also reiterated threats against nuclear sites and claimed Iran wants nuclear talks. Tensions rise amid Houthi threats and global energy concerns.
Samsung Electronics introduced three new Galaxy Z foldable smartphones at its Unpacked event in London, featuring the first 'Ultra' model in the foldable lineup and deeper integration with Google's Gemini AI. The company's co-CEO expressed confidence in its technology ahead of an expected Apple foldable iPhone, while also addressing pricing strategy for the South Korean market.
India has approved a $13.2 billion semiconductor program, Semicon 2.0, aiming to build a domestic chip ecosystem and a market worth up to $110 billion by 2030. With over 90% of advanced chips made in Taiwan, global supply chain concerns are driving countries to boost local production. India's strengths in design and its new investment plan are central to its ambitions, though manufacturing remains a challenge.
Two Saudi crude tankers have reversed course in the Red Sea after Houthi threats, raising fears of a second maritime chokepoint disruption for Asian buyers already affected by Strait of Hormuz tensions. Analysts warn a full closure could disrupt 7.4 million barrels per day, leaving the Suez Canal as a longer, costlier alternative.
US Secretary of State Marco Rubio and Chinese Foreign Minister Wang Yi met in Manila on the sidelines of Asean meetings, discussing Xi Jinping's planned US visit and the South China Sea dispute. Rubio also warned about Iran's threat to freedom of navigation and met with Quad partners.
Top diplomats from South Korea, the U.S., and Japan met in Manila on Wednesday, reaffirming close coordination on North Korea policy and committing to a robust deterrence posture. The three ministers also discussed economic security cooperation and agreed to deepen practical collaboration on nuclear energy, critical minerals, and emerging technologies.
South Korean President Lee Jae Myung will depart Friday for a five-nation trip starting in San Francisco, where he will meet with tech leaders including OpenAI's Sam Altman and Nvidia's Jensen Huang, and issue a 'San Francisco AI declaration.' He will then visit Brazil, Chile, and Argentina for summits, and conclude in Germany before returning Aug. 3.
The LG Twins have signed veteran MLB pitcher Carlos Carrasco for the remainder of the KBO season, a day after releasing setup man Yacksel Rios. Carrasco, a former Cy Young contender, brings 17 years of MLB experience to the defending champions.
Foreign ministers of South Korea, the U.S., and Japan met in Manila on Wednesday to discuss trilateral security and economic cooperation and coordinate on North Korea amid its deepening ties with Russia and China. The meeting took place on the sidelines of ASEAN-related gatherings, with separate bilateral talks between Seoul and Washington covering pending alliance issues, including Coupang and nuclear energy cooperation.
Seoul Mayor Oh Se-hoon was sentenced to a 10 million-won fine for accepting illegal political funds linked to opinion polls before the 2021 mayoral by-election. The ruling, which Oh plans to appeal, could cost him his mayoral post if upheld.
South Korea's KOSPI closed up 4.4 percent on July 23 after Alphabet's stronger-than-expected second-quarter results lifted semiconductor shares. Foreign investors were net buyers for a fourth straight day, while the Korean won strengthened against the dollar.
South Korean stocks opened sharply higher on Wednesday, driven by a semiconductor rally and anticipation of big tech earnings. The KOSPI surged over 5% in early trading, with chipmakers Samsung Electronics and SK hynix leading gains.
Persian Gulf monarchies are increasingly frustrated with the US-Iran conflict and may seek new security partnerships, while some states push for escalation and others for de-escalation, according to experts and reports cited by TASS.
Moonshot AI's release of the open-weight Kimi K3 model has narrowed China's AI gap with the US to weeks, sparking global debate. The model's performance and cost-effectiveness are reshaping perceptions, while Beijing advocates for global AI governance.
GM Korea's labor union extended a partial strike this week as wage negotiations with management remained deadlocked, demanding higher base pay and performance bonuses. After 17 rounds of talks, a tentative agreement was reached on Wednesday, including a monthly wage hike and bonus package, with a union vote scheduled for next week.
South Korea's foreign ministry has responded to Russia's concerns over deepening military cooperation with NATO, saying the partnership aims to strengthen both sides' contributions to international peace and stability. Meanwhile, North Korea condemned NATO's fuel network overhaul plan as an unprecedented preparation for war.
A data breach at the Korea National Diplomatic Academy's online education system exposed personal information of about 10,000 current and former diplomats and other officials. The attackers maintained access for nearly 10 months before the ministry shut the system down in February 2026. An investigation is ongoing, and the ministry plans to change diplomats' email addresses to prevent misuse.
Seoul stocks snapped a two-day losing streak, closing up 3.56% as investors bought tech heavyweights. The Korean won strengthened, and market breadth was positive. Analysts cited bargain hunting in semiconductors and a bullish outlook from global investment banks.