South Korea's finance ministry unveiled a roadmap to internationalize the Korean won, aiming for it to become a "freely convertible currency" by establishing offshore transaction systems, removing institutional restrictions, and improving foreign exchange regulations to boost its global use.
South Korea is prioritizing the internationalization of the Korean won as a key task to advance its foreign exchange and financial markets. A task force discussed transforming the won into a freely convertible currency and managing potential risks.
South Korea, seeking to avoid a second straight year without an LPGA major champion, fields a strong 21-player contingent led by Kim Hyo-joo and Kim Sei-young at the KPMG Women's PGA Championship in Minnesota. They aim to stop Nelly Korda's bid for a third consecutive major win.
South Korea can secure the top spot in Group A at the FIFA World Cup with a victory over Mexico and favorable results elsewhere. This would make them the first team to win their group in the tournament.
South Korea, aiming for their first-ever consecutive group stage wins at a FIFA World Cup, faces Mexico on Thursday. Both teams won their opening matches. South Korea has a poor record in their second group stage game, with no wins in 11 previous attempts.
South Korea is pushing to independently develop a manned submersible by 2030, investing 32.5 billion won. A seminar was held to discuss securing independent technology and establishing legal/institutional frameworks to support deep-sea exploration, highlighting the need for technological self-reliance and international competitiveness.
South Korea's Presidential Office Policy Chief Kim Yong-beom proposed 'Project Trinity' to make Korea a key AI hub by integrating semiconductors, data centers, and physical AI into a circular structure. He emphasized Korea's unique strengths in manufacturing and semiconductor supply chains to capitalize on global shifts.
South Korea's baseball team, aiming for a fifth consecutive Asian Games gold medal, announced its 24-man roster. Manager Ryu Ji-hyun expressed confidence in the young squad, emphasizing team unity and exceeding expectations.
South Korea faces Czechia in their FIFA World Cup Group A opener at Estadio Guadalajara. The Taegeuk Warriors, aiming for their 11th consecutive World Cup appearance, emphasize the importance of a strong start to advance to the knockout stage, especially with an expanded tournament format.
South Korea plans to upgrade its laver (gim) export supply chain to reach $1.8 billion annually by 2030, driven by global demand. Last year's exports hit a record $1.13 billion.
South Korea's Oceans Ministry is developing its southeastern region, particularly Busan, into a global maritime hub, anticipating expanded Arctic shipping routes. The initiative includes relocating shipping firms and establishing an international maritime court, aiming to boost economic growth and seafood exports.
South Korea's government, led by President Lee Jae Myung, plans to create a startup-friendly environment centered on AI and advanced technologies. Prime Minister Kim Min-seok emphasized supporting SMEs to drive economic growth and foster coexistence with large conglomerates.
Finance Minister Koo Yun-cheol met with AMCHAM chairman James Kim to discuss South Korea's efforts to develop its capital market as a core engine of economic growth. The government plans to operate the foreign exchange market on a 24-hour basis and establish an offshore won settlement system to meet MSCI developed market index criteria.
South Korea's air force apologized after a state audit found that a wingman pilot's unauthorized filming attempt caused a collision between two F-15K jets during formation flight near Daegu in December 2021. The pilot sharply climbed and banked without clearance to improve his camera angle, striking the lead jet's wing and causing about 880 million won ($600,000) in damage. No one was injured. The pilot received severe disciplinary action and left the military.
South Korea and the U.S. aim to complete conditions for wartime operational control (OPCON) transfer to Seoul by Q1 2029, the top U.S. general in South Korea said Wednesday. General Brunson testified that the allies delivered a roadmap to complete the transition between January-March 2029, aligning with President Lee Jae Myung's goal of retaking OPCON before his term ends in 2030.
