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Jeju Island's local government and South Korea's foreign ministry are seeking to invite Dr. Chang Gwang-chol, a North Korean education expert at UNESCO, to participate virtually in the Jeju Forum for Peace & Prosperity. However, a later report indicates the attempt has fallen through, with reasons unclear.
Samsung Electronics is set to hold its semiannual global strategy meeting to outline key business strategies for the second half of the year, with a focus on AI transformation and high-bandwidth memory (HBM) chip sales. The meetings, scheduled for June, will cover supply chain conditions, global demand, and long-term supply agreements with major tech customers.
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.
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.
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.
South Korea's presidential office has expressed cautious optimism over a reported U.S.-Iran ceasefire deal, welcoming the agreement while noting uncertainties remain about the immediate reopening of the Strait of Hormuz. The office voiced support for President Trump's efforts but indicated further nuclear negotiations could affect the deal's durability.
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.
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.
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.'
South Korea and Saudi Arabia have signed a memorandum of understanding to cooperate on energy resources, including crude oil, natural gas, and infrastructure. The agreement, announced after bilateral meetings between ministers, aims to secure stable supply chains amid global volatility. Separate discussions with Saudi Aramco focused on strategic oil storage and petrochemical supply.
South Korean President Lee Jae Myung, speaking at a Mass in Rome, said he believes the 'ember of hope' for reviving dialogue with North Korea still exists. He reaffirmed his commitment to peace efforts, including suspending propaganda broadcasts. Separately, a South Korean cardinal said Pope Leo XIV is willing to play a role in promoting peace on the Korean Peninsula, but a papal visit depends on Pyongyang's response.
South Korea's defense minister announced that a target year for the wartime operational control (OPCON) transfer from the U.S. will be proposed to both presidents by the end of this year. The move comes as the allies continue verifying Seoul's full operational capability (FOC) and work toward a roadmap for the transfer.
China added 10 US companies to its export control list and barred government procurement from 46 US firms, following the Pentagon's expansion of its blacklist of Chinese military-linked companies to 188 entities. Beijing's foreign ministry and commerce ministry criticized the US move, while a US official defended the restrictions.
South Korean investigators have sought arrest warrants for Shincheonji Church founder Lee Man-hee and three former senior officials, accusing them of forcing thousands of followers to join the opposition People Power Party to influence primaries, in violation of the Political Parties Act.
Three Hybe-affiliated girl groups—Le Sserafim, Illit, and Katseye—released the collaborative single 'Iconic by Mistake' on June 12, debuting at No. 38 on the US Billboard Hot 100 and reaching No. 22 on the UK Official Singles Chart. The digital-only track marks a rare cross-group project and was performed live ahead of its release.