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South Korea's M2 money supply rose 0.6% in April, driven by short-term deposits and funds awaiting investment, while foreign currency deposits increased in May to $112.25 billion, led by dollar-denominated holdings.
South Korean ministers have urged the U.S. to address pending trade issues, including proposed tariffs over forced-labor import bans, within the framework of their bilateral trade agreement. The USTR has proposed duties of 10% or 12.5% on goods from 60 economies, with South Korea among 54 facing the higher rate.
As the EU prepares to sharply reduce tariff-free steel imports from July 1, the UK and South Korea are taking steps to protect their steel industries. UK business secretary Peter Kyle is set to raise concerns with the EU trade commissioner, while South Korea's trade ministry vows to safeguard its companies' interests amid ongoing negotiations.
South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street after the United States and Iran reached an agreement to reopen the Strait of Hormuz. The KOSPI rose by more than 1.5% in early trading, while oil prices retreated as concerns over supply disruptions eased.
South Korean President Lee Jae Myung attended the G7 summit in Evian-les-Bains, France, as an invited partner, participating in discussions on global economic imbalances, energy supply disruptions, and other challenges. During the summit, Lee had a brief encounter with US President Donald Trump, who expressed commitment to advancing Korean Peninsula issues. The two leaders also discussed cooperation in shipbuilding and trilateral ties with Japan.
France face Senegal in their second Group I match of the 2026 World Cup, with both teams looking to build on their opening results. Kylian Mbappe leads France after a two-goal performance in their first game, while Senegal seek their first points after a loss. Other matches include Argentina vs Algeria, Norway vs Iraq, and Austria vs Jordan.
Lionel Messi is set to make history as the first player to feature in six World Cups, leading defending champions Argentina in their bid to retain the title. The team opens against Algeria, with coach Lionel Scaloni downplaying favourites tag while praising his captain's enduring form.
US President Donald Trump announced that ships are starting to move through the Strait of Hormuz following a preliminary US-Iran deal, but ship-tracking data shows only a handful of vessels have transited, with hundreds still waiting. The reopening faces security concerns such as mines and tolls, while shipping operators and seafarers' advocates remain cautious.
Israel anticipates additional European orders for its air and missile defense systems, driven by Russia-related security concerns. Swiss moves to accelerate its own air defense, including resumed Patriot payments, also point to renewed European interest in such capabilities.
The UK government has announced a ban on social media access for children under 16, set to take effect in 2027. The measure follows Australia's model and is part of a global push to protect children online, but has drawn criticism from tech experts and some young users.
SK Group Chairman Chey Tae-won and his former wife, Roh Soh-yeong, failed to reach a settlement in court-ordered mediation over asset division. The Seoul High Court has ended mediation and will deliver its verdict on July 24, with key disputes centering on whether Chey's SK Inc. stocks constitute marital property.
President Lee Jae Myung met Pope Leo XIV at the Vatican and invited him to attend World Youth Day 2027 in Seoul. The two discussed peace on the Korean Peninsula, with Lee asking the pope to also consider visiting North Korea and the Demilitarized Zone.
Seoul stocks closed sharply higher Monday, with the KOSPI gaining 5.2 percent to reach 8,545.98, driven by news of a US-Iran agreement to end their war. Foreign and institutional investors were net buyers, while the Korea Exchange issued a sidecar to curb excessive volatility. The won also rose sharply, and most market heavyweights gained, with an official signing ceremony scheduled in Switzerland on Friday.
The United States and Iran have announced a preliminary ceasefire deal, set to be signed later this week, which would reopen the Strait of Hormuz and set the stage for negotiations on a long-term agreement. While world leaders have welcomed the move, Israel's defense minister said his country will not withdraw from territory seized in Lebanon, and Jewish groups in the US are split in their reactions.
South Korea's unification ministry reaffirmed its commitment to peaceful coexistence with North Korea, saying it is the most effective path to improving human rights in the North. The response follows Pyongyang's harsh criticism of Seoul's policy, which it labeled a 'disguise of peace' and declared South Korea an 'invariable enemy state.'
Protests demanding a rerun of South Korea's June 3 local elections over ballot shortages continued for the eleventh day, with about 200 demonstrators rallying outside a Seoul gymnasium. The government and ruling party vowed stern action against illegal acts, while the National Election Commission said a rerun is not warranted under election law.
Brent crude has fallen to its lowest levels since early March as a US-Iran peace deal appears imminent, raising hopes for the reopening of the Strait of Hormuz. While markets react positively, experts caution that a swift return to normalcy is uncertain and could take months.
Stock markets around the world surged and oil prices dropped following the announcement of a deal between the US and Iran to end the US-Israel war on Iran and reopen the Strait of Hormuz. The S&P 500 and Nasdaq posted significant gains, while Brent crude fell sharply, reflecting hopes for restored stability in energy supply chains.
The Doosan Bears, the hottest team in the Korea Baseball Organization in June, are set to face the KT Wiz and LG Twins this week. Meanwhile, LG's Austin Dean has been named the KBO's Player of the Month for June, adding to a season that has seen the Twins become the first team to reach 50 wins.
South Korea's presidential office reaffirmed that denuclearization of the Korean Peninsula remains a consistent goal of the international community, following North Korea's condemnation of recent U.S.-South Korea talks. Pyongyang called denuclearization an 'irreversibly finalized' matter and dismissed allied efforts as 'unreasonable talk.'