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South Korea will launch a three-month special crackdown on drugs starting this weekend, focusing on foreign smuggling, drug use at bars and clubs, and illegal circulation of medical-purpose drugs like ketamine. Authorities reported 5,203 drug offenders apprehended in the first half of 2026, a 7.8% increase from the previous year, with over 60% of offenders in their 20s and 30s.
South Korean stocks traded nearly 13% higher Friday morning, driven by semiconductor shares after Microsoft's strong earnings report eased AI spending fears. The KOSPI recovered some of its sharp losses after a three-session sell-off.
South Korean President Lee Jae Myung met Argentine President Javier Milei in Buenos Aires, agreeing to deepen cooperation on critical minerals and crude oil imports. The visit marks the first by a South Korean president in 22 years and concludes a three-nation South America tour.
South Korea's finance minister has pledged preemptive measures against energy supply disruptions and market volatility, while defending the country's economic fundamentals. The government raised its 2025 growth forecast to 3% amid record exports, but faces criticism over policy missteps linked to stock market swings.
Michelle Park Steel, the new U.S. ambassador to South Korea, arrived in Seoul on Thursday and called for a 'results oriented' and 'forward leaning' alliance, while progressive civic groups protested her appointment. Steel, the first U.S. envoy under Trump's second term, faces pending security, trade, and technology issues.
LG Twins starter Im Chan-kyu earned his 10th win of the season as the Twins defeated the Kiwoom Heroes 5-3, securing their first series win since the All-Star break. Im, who had been struggling amid the team's losing streak, became emotional after the victory, saying he felt guilty about the team's recent slump.
South Korea's industrial output rose 2.3% in June from May, snapping two months of decline, led by strong automobile and semiconductor production. Retail sales and facility investment also gained, indicating a broad improvement in economic activity.
The Trump administration is considering a $100,000 fee for foreign graduates using the Optional Practical Training (OPT) program, according to the Wall Street Journal. The proposal, still under discussion at the Department of Homeland Security, could affect thousands of international students and U.S. employers. The fee would follow a similar H-1B visa fee that was recently blocked by a U.S. appeals court.
South Korean President Lee Jae Myung announced that South Korea and Chile have agreed to reactivate a joint committee to discuss modernizing their free trade agreement, which has been in effect since 2004. The leaders also agreed to deepen cooperation in critical minerals, defense, infrastructure, and public security, while the US tariff on Chilean imports adds a geopolitical backdrop.
SK Group Chairman Chey Tae-won purchased 3,620 shares of SK hynix in the open market, his first such move, valued at around 4.8 billion won. The purchase comes as the chipmaker's shares have fallen by more than half from a record high, despite nearly tripling since the start of the year. Chey has previously expressed confidence in the long-term prospects of memory chips.
South Korean military officials identified an unmanned vehicle detected near the inter-Korean border as a U.S. military drone involved in a training exercise. The incident triggered a brief shelter advisory in Cheorwon as military procedures were followed, with authorities noting the drone's planned flight path may not have been shared with South Korean units.
President Lee Jae Myung's approval rating has dipped to 53 percent, the lowest in a National Barometer Survey since his inauguration, according to a Yonhap report. The poll also shows disapproval rising to 37 percent, and a majority expressing dissatisfaction with real estate policies.
South Korea's military is inspecting front-line Army corps after the 1st Corps was found to have used unloaded K6 machine guns and K4 grenade launchers during guard duty. The Army Ground Operations Command has ordered all crew-served weapons at border posts to remain loaded.
Sony's 'Spider-Man: Brand New Day' has set multiple box-office records in South Korea, becoming the fastest film of 2026 to reach 1 million and 2 million admissions, and topping the weekend chart with over 3 million attendees in four days. The fourth Spider-Man installment starring Tom Holland also posted the year's biggest opening day, drawing 688,000 moviegoers.
The US Federal Reserve held interest rates steady for the fifth consecutive meeting, with a split vote and dissenting governors favoring a hike. South Korea's central bank and finance ministry expressed concerns over persistent inflation, Middle East tensions, and risks to financial markets.
South Korea's ruling Democratic Party is pushing forward with legislation to abolish the prosecution's direct investigative authority, including a bill to mandate full recording of investigations. The main opposition People Power Party is expected to filibuster the measures as the bills move through the National Assembly.
Samsung Electronics reported a second-quarter net profit of 71.62 trillion won (US$49.6 billion), up 1,299.9% year-on-year, driven by strong AI-related semiconductor demand. Operating income rose 1,813.8% to 89.49 trillion won, while sales increased 130% to 171.49 trillion won, meeting market expectations. The company expects continued robust demand in the second half.
South Korea's business sentiment rebounded in July, driven by improved confidence among manufacturers amid robust semiconductor exports, according to a central bank survey. Consumer sentiment also rose for the third consecutive month, supported by strong exports and investment plans, despite rising inflation and a volatile stock market.
Michelle Steel, the newly confirmed U.S. Ambassador to South Korea, is set to arrive in Seoul on Thursday, filling a post vacant since January last year. In her first major public remarks since confirmation, she called strengthening the alliance her top priority and highlighted U.S.–South Korea shipbuilding cooperation.
A senior US Navy official has described South Korea's command of combined maritime forces during this year's RIMPAC exercise as a 'historic leadership milestone,' underscoring shared responsibility among allies. The South Korean Navy also won top honors in a live-fire gunnery competition, and its participation is seen as a valuable opportunity to enhance its capabilities for combined operations.