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Yonhap reports that North Korean state media called for thorough preparations against heavy rainfall, first during the annual monsoon season and then as Typhoon Bavi affected the region. The North’s weather agency issued warnings for up to 200 mm of rain and strong winds through mid-July.
South Korea's benchmark KOSPI opened lower on Tuesday, tracking Wall Street losses, as investors weighed heightened Middle East uncertainty and AI sector concerns. The index fell in early trading, with tech heavyweights like SK hynix and Samsung Electronics under pressure, while the Korean won ticked up slightly against the dollar.
President Trump said the U.S. will act as 'guardian' of the Strait of Hormuz and charge a 20% fee on all cargo shipped through it, while reinstating a naval blockade of Iranian ports. The announcement comes amid ongoing U.S.-Iran tensions and has raised questions about cost calculations and implications for energy-importing nations.
President Donald Trump announced the US will take control of the Strait of Hormuz and charge a 20% toll on cargo, prompting Iranian officials to assert Tehran's continued guardianship of the waterway. The proposal has drawn criticism from an Israeli security expert who says it validates Iran's own fee demands.
Seoul shares tumbled 9% on Monday as investors dumped technology stocks, triggered by Middle East tensions and profit-taking. The KOSPI fell 669 points to 6,806.93, with a circuit breaker halting trading temporarily. The won weakened against the dollar.
South Korean stocks fell sharply on Monday, with the KOSPI dropping 9 percent amid Middle East tensions and profit-taking in technology stocks. The won weakened against the dollar, and trading was briefly halted after a circuit breaker was triggered.
President Lee Jae Myung announced plans to create a 'future response fund' using additional tax revenue from the semiconductor boom, targeting youth, regional development, and education. The government also outlined a record spending plan exceeding 800 trillion won, raising concerns about inflation and asset prices.
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.
South Korean stocks have experienced volatile trading sessions late last week and this week, driven by escalating Middle East tensions and uncertainty over AI-related valuations. The KOSPI has swung between sharp losses and gains, with chipmakers leading declines.
Financial Supervisory Service Governor Lee Chan-jin has called on asset managers and virtual asset operators to strengthen internal controls and consumer protection amid market volatility, while warning retail investors about the risks of leveraged investments, including single-stock leveraged ETFs.
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.
Vice Adm. Jeffrey Jablon, deputy commander of the U.S. Pacific Fleet, expressed satisfaction with South Korea's role in the RIMPAC exercise, where Rear Adm. Kim In-ho serves as maritime component commander—a first for an Asian nation. Rear Adm. Suzanne Bailey also highlighted the milestone for the U.S.-South Korea alliance.
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.
The South Korean Navy has recovered the body of a sailor who went missing during a patrol mission in the East Sea. The sailor, a seaman apprentice, was reported missing on Sunday morning off the coast of Gangwon Province, prompting a joint search with the Coast Guard.
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.