KB Kookmin Bank to introduce blockchain-based cross-border payment service via JPMorgan's Kinexys network in August, initially supporting USD transfers across 10 countries.
South Korea's weather agency issues highest-level heat wave warnings for southeastern parts, including Daegu, Gyeongsan, Cheongdo, Pohang, and Gyeongju, with temperatures reaching up to 38.4°C on July 26.
South Korean President Lee Jae Myung urges expansion of US-Korea alliance into tech, innovation, and startups, leveraging US venture capital and Korea's advanced manufacturing.
Foreign Minister Cho Hyun sought to deepen cooperation with regional partners at ASEAN-led meetings in Manila, addressing security and economic challenges. However, North Korea's absence from the ARF and limited exchanges with China and Russia highlighted a divided regional landscape.
South Korea's defense ministry disciplined former senior officers, including dismissing two commanders, for the 2023 death of Marine Cpl. Chae Su-geun during a flood rescue without safety gear. Separately, a special counsel requested a five-year prison sentence for former 1st Marine Division commander Lim Seong-geun in an appeals trial.
South Korea's military is investigating unauthorized access to its Picture Archiving and Communication System (PACS) that exposed soldiers' medical records late last year. The breach, affecting 8GB of data, was discovered in April, prompting system shutdown and a joint probe. Disciplinary action is sought against three officers.
A former professor in Seoul, Lee M, has been sentenced to 3.6 years in jail by South Korea's Supreme Court for coercing his students to write research papers and fabricate data for his daughter's high school and university admissions between 2012 and 2018. His daughter also received a suspended sentence.
South Korean food and confectionery companies, including Nongshim, CJ Foodville, and BR Korea, are raising product prices by 5.8% to 6.5% due to increased costs from the Korean won's depreciation and rising oil prices linked to Middle East tensions.
South Korean crypto exchange Korbit will rebrand as Digital X after its acquisition by Mirae Asset Group. Mirae founder Park Hyeon-joo announced the name, central to the group's "3.0" strategy to combine digital and traditional finance, with plans for RWA tokenization, security tokens, and stablecoins.
SK Group Chairman Chey Tae-won's divorce from Roh So-young could become South Korea's most expensive, with a Seoul High Court ruling potentially awarding Roh a significant portion of Chey's US$5.6 billion fortune, boosted by SK Hynix's AI chip success.
North Korea's foreign ministry accused South Korea, the U.S., and Japan of exploiting the recent ASEAN forum in the Philippines to incite hostility, promote a U.S.-led security bloc, and push for denuclearization, which Pyongyang asserts is "irreversibly concluded."
The US has imposed tariffs of 10-12.5% on goods from several countries, including China, Japan, and the EU, citing forced labor practices. Experts view these actions as a pretext for President Trump's 'America-first' trade agenda, with another Section 301 investigation ongoing.
South Korea's ruling Democratic Party adopted a revision to the Criminal Procedure Act, making it official party line to strip the prosecution of its direct investigation rights, including supplementary investigations. The party also plans to establish a dedicated team within the serious crimes investigation agency for vulnerable victims, with the bill expected to be voted on next Thursday.
South Korea will keep fuel price caps unchanged for four weeks, citing renewed US-Iran tensions in the Middle East and domestic inflation. The decision aims to shield the economy and consumers from global oil price volatility.
The United States imposed a fresh wave of tariffs late on Thursday against 60 countries, including China, Japan, South Korea, India, and European Union member states, just hours before a temporary 10% blanket levy was set to expire.
South Korean President Lee Jae Myung expressed concerns about the country's real estate market, comparing it to Japan's 1990s property crash, as he plans tax revisions. Economists, however, largely downplay immediate bubble burst risks, citing tight lending and regional price variations, while acknowledging some shared financial characteristics with Japan.
South Korea's finance ministry continues to support workers and businesses affected by Homeplus Co.'s financial difficulties and court-led rehabilitation proceedings, which were recently resumed after a major creditor agreed to provide financing.
The Kansong Art Museum in Seoul officially handed over two Qing dynasty lion sculptures to China, marking the implementation of a diplomatic agreement signed by Presidents Xi Jinping and Lee Jae Myung. The return symbolizes noticeably improved bilateral ties after a decade of strained relations.
SK Group chairman Chey Tae-won was ordered by a South Korean court to pay his ex-wife Roh Soh-yeong 944bn won ($644m) in an asset division case, a reduction from an earlier ruling, after their 35-year marriage ended following revelations of another child.
South Korean President Lee Jae Myung commenced an 11-day overseas trip, starting in San Francisco to meet global tech leaders like Sam Altman and Jensen Huang for AI investment talks and to issue an AI declaration. He will then visit Brazil, Chile, and Argentina to expand diplomatic and economic outreach, focusing on resource and security partnerships.
South Korea's bourse operator activated a sell-side sidecar for the KOSPI benchmark index after it fell sharply, led by tech losses. The decline was linked to escalating Middle East tensions following U.S. President Donald Trump's comments about a potential "massive attack" on Iran.
South Korea's President Lee Jae Myung will dispatch a special delegation, led by Rep. Min Hong-chul, to Peru for President-elect Keiko Fujimori's inauguration. The delegation will deliver Lee's letter, outlining a vision for strategic relations and discussing defense and security cooperation.
Hanwha Ocean signed agreements with U.S. companies Leidos Gibbs & Cox, Hanwha Philly Shipyard, and others in Washington to design naval vessels and develop the shipbuilding supply chain, supporting the "Make American Shipbuilding Great Again" initiative.
South Korea reported an increase in laying hens (1.6% to 78.98M) and broiler chickens (1% to 110.8M) in Q2 year-on-year. Conversely, beef cattle (4.9% to 3.28M), dairy cattle (1.6% to 365K), and pigs (2.2% to 10.65M) saw declines, according to the Ministry of Data and Statistics.
