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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.
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.
Kim Jong Un said North Korea will exercise its position as a nuclear state to cope with global security challenges, blaming the US for worsening conflicts. He also ordered buildup of conventional weapons and construction of a 10,000-ton strategic guided missile cruiser.
Samsung Electronics announced that sales of its sixth-generation HBM4 memory chips have surpassed $1 billion, just four months after mass production began. Industry sources project revenue to exceed $1.2 billion by end of June, with annual sales expected to top $10 billion in 2026.
South Korean golfers aim to end a major drought at the richest tournament in women's golf history, while negotiations to co-sanction the BMW Ladies Championship with the KLPGA have collapsed over player quota disagreements.
South Korea meet South Africa in their final Group A match at the FIFA World Cup, needing just a draw to advance but with coach Hong Myung-bo demanding a win. The match is goalless at halftime, with captain Son Heung-min not in the starting lineup.
South Korea's consumer sentiment improved for the second consecutive month in June, driven by strong exports and a stock market rally, according to the Bank of Korea. However, business sentiment declined for the first time in three months, weighed down by sluggish construction and travel sectors.
An explosion at Qatar's Ras Laffan industrial zone killed at least 13 people and injured dozens, officials said. The blast occurred during restart operations at the Barzan gas supply facility, attributed to a technical malfunction. Authorities confirmed no impact on exports or environment.
South Korea's Seoul Central District Court sentenced former Justice Minister Park Sung-jae to 25 years in prison for his role in ex-President Yoon Suk Yeol's brief 2024 martial law declaration. Park was convicted of playing a key role in an insurrection and abusing power; he has appealed the ruling.
The head of South Korea's bourse operator, Korea Exchange, said the current concentration in semiconductors is a natural result of supply and demand, while noting the government is working to ease market fluctuations. He also outlined plans to restructure the KOSDAQ market to boost fairness and transparency, as the tech-heavy index celebrates its 30th anniversary.
Seoul shares closed at a fresh all-time high Monday, driven by a semiconductor rally and signs of progress in U.S.-Iran talks. The KOSPI added 62.13 points, or 0.69 percent, to reach 9,114.55, while SK hynix surged to surpass Samsung Electronics in market cap for the first time.
SK hynix has surpassed Samsung Electronics in market capitalization for the first time, driven by surging demand for AI memory chips. The milestone marks the end of Samsung's 25-year reign as the top company on South Korea's main stock index.
Ukrainian Foreign Minister Andrii Sybiha is set to visit South Korea next week for talks with Foreign Minister Cho Hyun, focusing on bilateral cooperation and the fate of two North Korean soldiers captured by Ukrainian forces. This marks the first such visit since 2015, with expectations of progress on the POW issue.
An explosion at Qatar's Ras Laffan Industrial City, home to the world's largest liquefied natural gas export terminal, has injured at least 54 people and left 18 missing, according to the country's Interior Ministry. QatarEnergy said the blast occurred during start-up operations at its Barzan gas supply facility, with a fire now reported under control and no dangerous leak detected.
South Korea's exports in the first 20 days of June jumped 60.4% year-on-year to a record $62 billion, driven by strong semiconductor shipments amid the global AI boom. Imports rose 23.2%, yielding a trade surplus of $17 billion.
Starbucks Korea will close all its stores early on June 22 for mandatory history and sensitivity training following a controversial 'Tank Day' promotion that evoked memories of the 1980 Gwangju uprising. Shinsegae Group Chairman Chung Yong-jin will also undergo the training, as police question an executive over the incident.
Wyndham Clark won the US Open by one stroke over Sam Burns, despite a challenging final round and hostile crowd at Shinnecock Hills. The victory marks a redemption for Clark after last year's locker incident at Oakmont. Burns mounted an audacious comeback, but fell just short.
Protests demanding a rerun of South Korea's June 3 local elections, marred by ballot paper shortages, have continued for over two weeks. The demonstrations, which began June 5, have drawn thousands to the Olympic Park area, with authorities urging participants to refrain from illegal acts while a joint police-prosecutor probe into the shortages continues.