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At the 27th ASEAN Plus Three Foreign Ministers' Meeting in Manila, South Korea, China, and Japan agreed to strengthen cooperation on supply chains and food and energy security amid the Middle East crisis. South Korea also reaffirmed its partnership with ASEAN, unveiling new initiatives in AI and cultural industries.
South Korea's monsoon season is expected to end early next week, followed by an intense heat wave, according to the Korea Meteorological Administration. The current record-breaking heat is forecast to peak on Friday before easing slightly over the weekend, with temperatures remaining above normal next week.
South Korea's men's football team will face Saudi Arabia and Qatar in Group D at the Aichi-Nagoya Asian Games, while the women's team will meet North Korea. The draw took place in Nagoya, Japan, on Thursday.
Recent government data shows a decline in the labor force participation rate among South Koreans aged 15 to 29 in May, with rising unemployment and longer times to complete college. Additionally, the number of unemployed college graduates hit a five-year high in the second quarter, reflecting a tightening job market for young adults.
President Lee Jae Myung said South Korea faces one of its biggest challenges in stabilizing the real estate market and cited Japan’s 1990s collapse as a caution. Speaking at a televised public discussion, he said there is broad consensus on raising property holding taxes as the government prepares revisions aimed at cooling soaring home prices.
Former South Korean Land Minister Won Hee-ryong appeared before a special counsel team for questioning over allegations he altered an expressway route to benefit former first lady Kim Keon Hee's family. He denied wrongdoing. The project was scrapped in July 2023 after controversy.
South Korea's ruling Democratic Party has shortlisted three candidates for its leadership race: former Prime Minister Kim Min-seok and two former party leaders, Jung Chung-rae and Song Young-gil. The party plans to hold its national convention on Aug. 17 to elect a new leader, who will oversee nominations for the 2028 parliamentary elections.
South Korean prosecutors and police raided the National Election Commission headquarters on Thursday amid an investigation into ballot shortages during the June 3 local elections. The task force said it found evidence that some employees manipulated statistics to cover up errors in voter turnout rates.
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.
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.
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.
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 South Korean court on Tuesday denied an arrest warrant for a woman accused of blocking a Seoul vote counting center for about two hours on June 16, citing no risk of flight or evidence destruction. The woman was referred to the prosecution without detention on charges of obstruction of business, while four men also appeared for hearings related to protests at Olympic Park.