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President Lee Jae Myung announced plans to create a 'future response fund' using extra tax revenue from the semiconductor boom, aiming to invest in future industries, support younger generations, and address inequality. The fund will back the government's 'three megaprojects' in semiconductors, physical AI, and AI data centers.
South Korea's Tom Kim claimed his first PGA Tour title in 33 months at the Genesis Scottish Open, finishing two strokes ahead of Min Woo Lee. His victory lifted him 33 spots in the world rankings to No. 33, while compatriot Kim Si-woo rose to No. 21.
Min Woo Lee finished runner-up at the Scottish Open behind South Korea's Tom Kim, who closed with a six-under 64 for his first PGA Tour title since 2023. Meanwhile, world number one Scottie Scheffler missed the cut for the first time in four years, ending a streak of 78 consecutive cuts.
South Korea's exports rose 52.3 percent in the first 20 days of July, driven by a nearly tripling of semiconductor shipments, according to customs data. Imports grew 20 percent, yielding a trade surplus of $12.2 billion. Earlier data for the first 10 days showed a record export figure, underscoring robust demand.
South Korea's exports rose 52.3% in the first 20 days of July year-on-year, following a 53.9% increase in the first 10 days, according to Korea Customs Service data reported by Yonhap News.
A Seoul court has sentenced former South Korean President Yoon Suk Yeol to two years in prison for partially accepting illegal political funds in the form of free opinion polls from a self-proclaimed power broker. The ruling diverges from the acquittal of his wife, former first lady Kim Keon Hee, on similar charges. Yoon, who denies the allegations, is also appealing a life sentence for insurrection related to his 2024 martial law declaration.
South Korea's Ryu Hae-ran captured her second consecutive LPGA major at the Amundi Evian Championship, defeating Brooke Henderson in a playoff. The victory lifted her to a career-best world ranking of No. 3.
South Korea issued its first-ever 'grave heat wave' warnings for the southeastern cities of Gyeongsan and Pohang under a new alert system introduced last month. Temperatures soared to 39.9°C in Gyeongsan and 37.2°C in Pohang, prompting authorities to urge residents to avoid outdoor activities.
A South Korean Navy sailor went missing during a patrol in the East Sea near the inter-Korean maritime border, prompting a search operation and a humanitarian appeal to North Korea for cooperation.
South Korea is accelerating plans to relocate a military airport in Gwangju to make way for a semiconductor production cluster, with Muan County named a preliminary candidate site. The U.S. military has signaled it has important interests at the base, while chipmakers Samsung and SK hynix plan to invest 800 trillion won.
South Africa and Mamelodi Sundowns midfielder Jayden Adams has died at the age of 25, just weeks after featuring in all three of his country's World Cup group games. Police have opened an inquest while autopsy results are pending, and officials have urged restraint over speculation about the cause.
President Lee Jae Myung returned to Seoul after attending the NATO summit in Ankara and a state visit to Mongolia, during which he held summits with Romanian and Mongolian leaders, proposed a Korea-NATO Defense Industry Partnership 2.0, and agreed to launch negotiations on a procurement framework agreement with NATO.
President Donald Trump allowed a landmark bipartisan housing bill to become law without his signature, citing protest over stalled voter ID legislation. The bill, which includes measures to ease construction and limit institutional investors, takes effect automatically.
President Lee Jae Myung attended the NATO summit in Ankara and agreed with the alliance to begin negotiations on a procurement framework agreement. Seoul is seeking to expand arms exports to European NATO members amid rising defense spending in Europe.
The body of a 76-year-old man swept away in a stream in Yeongju was recovered on July 16, after an eight-day search. The search involved thousands of personnel and equipment, including helicopters and drones.
SK hynix listed American depositary receipts on the Nasdaq, raising about 40 trillion won ($26.5 billion) to fund domestic chip facilities. The listing, one of the largest U.S. equity offerings by a foreign company, is expected to broaden its global investor base and may affect the Korean won.
President Lee Jae Myung likened South Korea's pioneering spirit to Mongolia's nomadic spirit, saying the resemblance drives bilateral friendship and understanding. He also called for expanded cooperation during a visit to Ulaanbaatar, highlighting the vibrant Korean town as a bridge between the nations.
South Korean stocks rose for a second consecutive session, with the KOSPI adding 2.52% as semiconductor shares rallied on overnight Wall Street gains. The local currency strengthened against the dollar, while bond yields slipped.
South Korea's Supreme Court will deliver its verdict on July 16 in the corruption case against former first lady Kim Keon Hee, who faces charges including stock price manipulation and bribery. The ruling follows appeals from both Kim and the special counsel team against a four-year prison sentence handed down in April.
North Korea announced plans to strengthen its nuclear arsenal 'in quality and quantity' and expand the role of its military intelligence agency targeting South Korea. The decision, made at a ruling party military commission meeting, reflects a shift toward treating the two Koreas as hostile states, according to analysts.