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Firefighters in South Korea are battling a large fire at a Coupang logistics center in Incheon for a second day. The blaze, which started Saturday, has prompted evacuations and a national mobilization order. Authorities are carrying out demolition work to control the fire, and two firefighters have been hospitalized.
South Korea has introduced 24-hour foreign exchange trading for the won, a key step in its effort to improve foreign investor access and internationalize the currency. The government also unveiled a roadmap to make the won a 'freely convertible currency' and called on exporters to help stabilize the market.
South Korea's Industry Minister Kim Jung-kwan will travel to the U.S. this week for a shipbuilding ceremony, with expectations he may discuss the Coupang data leak investigation that has drawn U.S. criticism. The presidential national security office held a meeting on bilateral trade and security issues amid ongoing complaints from Washington.
North Korean Foreign Minister Choe Son-hui arrived in Moscow on July 18 for an official visit, where she met Russian Foreign Minister Sergey Lavrov. The two agreed to accelerate bilateral cooperation, with Russia expressing support for North Korea's sovereignty and Pyongyang supporting Moscow's policies on Ukraine. The visit comes amid deepening ties since the 2024 comprehensive strategic partnership treaty.
Son Heung-min has extended his MLS scoring streak to three matches, netting LAFC's opener in a 4-0 win over Sporting Kansas City. The South Korean forward had earlier ended a 13-game goalless drought in the league and now leads MLS with 10 assists.
A fire broke out at a Coupang logistics center in Incheon on Saturday, prompting a Level 1 response and evacuation of 121 people. No casualties were reported, though one firefighter was injured. President Lee Jae Myung ordered authorities to minimize damage, and Coupang issued a public apology.
North Korean leader Kim Jong-un held photo sessions with participants in the Eighth Congress of the Socialist Women's Union of Korea and with exemplary soldiers from a construction unit, state media reported. The meetings come days after the women's union congress in Pyongyang, where party officials urged members to defend socialist ideology against 'reactionary' capitalism.
President Lee Jae Myung's approval rating fell to 51 percent this week, marking a third straight weekly decline, according to a Gallup Korea poll. Disapproval rose to 38 percent, with real estate policy cited as the top reason for negative assessments. The ruling Democratic Party's approval rose to 44 percent.
President Lee Jae Myung reiterated plans to designate Dec. 3 as a day of people's sovereignty, marking the anniversary of former President Yoon Suk Yeol's failed martial law declaration. He pledged to make it a public holiday and launched the 'Committee of Light' to honor those who protected democracy.
The Trump administration has finalized a rule ending open-ended stays for foreign students, exchange visitors, and journalists in the US. International students and exchange visitors will be limited to four years, journalists to 240 days (90 days for Chinese nationals), with extensions possible but requiring reapplication. The move is part of a broader immigration crackdown and has drawn criticism from educators.
South Korea's financial regulator has introduced measures to curb volatility from single-stock leveraged ETFs, including raising minimum deposits and suspending new listings. Authorities are also considering further caps on these products as concerns grow over their impact on the stock market.
Former South Korean first lady Kim Keon Hee has postponed her appearance before a special counsel team over alleged irregularities in the 2022 relocation of the presidential residence. The session has been rescheduled to 10 a.m. Tuesday, citing health reasons. Kim is suspected of influencing the selection of an interior design company for the project.
The Bank of Korea raised its benchmark interest rate by 25 basis points to 2.75% in a unanimous decision, marking the first hike since January 2023. The central bank cited persistently high inflation, a weak won, and robust export-led growth, and signaled the possibility of further increases.
Hyundai Motor Group plans to acquire the remaining 9.65 percent stake in Boston Dynamics after SoftBank Group exercised its put option, according to industry sources. The move is expected to bolster their robotics collaboration, with plans to deploy the Atlas humanoid robot at a U.S. plant starting in 2028 and potentially paving the way for a Boston Dynamics IPO.
South Korean police have referred former prosecutor Kim Sang-min and two other officials to the prosecution on forgery charges related to a 2024 knife attack on President Lee Jae Myung. Kim is suspected of altering the weapon description in an internal National Intelligence Service report, which led the NIS to initially conclude the attack was not terrorism. The government later designated the attack as a terror case in January.
South Korea will develop a sovereign AI model focused on cybersecurity by the end of 2026, responding to recent US export controls on advanced AI systems. Science Minister Bae Kyung-hoon announced the plan, highlighting the need to strengthen domestic AI capabilities amid growing digital threats.
A Seoul court rejected an arrest warrant for former Prosecutor General Shim Woo-jung over his alleged role in President Yoon Suk Yeol's 2024 martial law bid, citing insufficient grounds. Meanwhile, the special counsel questioned former defense minister Kim Yong-hyun about allegations of plots to detain politicians.
South Korean stocks tumbled sharply as escalating Middle East tensions and a selloff in technology shares rattled investors. The KOSPI fell more than 6 percent in a volatile session, while the Bank of Korea raised its benchmark interest rate. The U.S. launched fresh strikes on Iran, adding to worries about energy supplies.
The government and the ruling Democratic Party have agreed to expedite the creation of a unified military academy for the Army, Navy, and Air Force in Daejeon, a move aimed at modernizing officer education. The plan has drawn objections from alumni associations and the opposition, while officials argue it is essential for future warfare readiness.
South Korea's finance ministry announced plans to closely monitor sectors with sluggish employment, including manufacturing, amid renewed Middle East tensions. The country added 63,000 jobs in June, rebounding from a May decline, but youth employment and manufacturing remain weak, prompting a comprehensive youth job package expected in the third quarter.