South Korea is experiencing an unprecedented heat wave, with record high temperatures exceeding 40C in several areas. The extreme weather has led to 16 heat-related deaths and over 2,000 illnesses nationwide since mid-May, prompting severe heat wave warnings across the country, including the greater Seoul area.
The Bank of Korea announced plans to purchase domestically produced gold for the first time in 13 years through over-the-counter transactions, partnering with LS MnM, KRX, and KSD. This move aims to reduce foreign exchange risks and increase gold holdings amid rising geopolitical uncertainties.
Jeju SK FC's head coach Sergio Costa and goalkeeper Kim Dong-jun express excitement to learn from Bayern Munich players during their exhibition match in Jeju, South Korea. Costa plans to rest key players, while Kim looks forward to observing Manuel Neuer and improving their team.
South Korean Foreign Minister Cho Hyun expressed optimism that new U.S. Ambassador Michelle Steel, who recently arrived in Seoul, will leverage her direct access to Washington to help resolve pending bilateral issues, including economic and security matters, ahead of their first meeting.
South Korea's finance ministry announced tax code revisions aimed at strengthening economic growth potential beyond semiconductors, improving livelihoods for low- and middle-income households and youth, and pursuing a fairer, more rational tax system.
Bayern Munich coach Vincent Kompany lauded defender Kim Min-jae's work ethic, stating it inspires teammates, despite Kim's reduced playing time. Kim expressed commitment to Bayern amidst competition from Dayot Upamecano and Jonathan Tah during the team's Asian tour in South Korea.
South Korea is experiencing an unprecedented heat wave, with record high temperatures reaching 41.2 C in Goryeong County and 40.9 C in Daegu. The extreme heat has led to several heat-related deaths, including a man in Incheon and two farmers in South Chungcheong, prompting severe heat wave warnings across the nation.
Seoul Subway Line 1 resumed service at Hankuk University of Foreign Studies Station after emergency power line repairs. The issue, which began at 3:45 p.m., caused trains to skip the station and run behind schedule, with repairs completed by 5:12 p.m.
Hanwha Aerospace terminated UAM component deals worth US$318 million with UK's Vertical Aerospace due to changed market conditions and project direction, despite fulfilling obligations. The companies signed an MOU to continue partnership.
South Korea has proposed new tax code revisions aimed at reducing tax benefits for owners of high-value homes while extending support to businesses involved in domestic production of critical supply chain items. The proposals, which require National Assembly and Cabinet approval, seek a more "reasonable" property tax system and are projected to generate 3.44 trillion won in additional tax revenue.
Lt. Gen. Han Ki-sung, commander of the Army's 1st Corps, was relieved of duty due to controversies including an order for troops to conduct guard duty with unloaded firearms and a recent mix-up involving a U.S. spy drone near the inter-Korean border.
Hyundai Motor Co. reported a 5.1% global sales decline in July, marking its 10th consecutive monthly drop, due to partial labor strikes and customers delaying purchases. The South Korean automaker expects a recovery in the second half with new model launches.
The ethics committee of South Korea's main opposition People Power Party (PPP) will meet this week to consider disciplinary actions against three lawmakers—Cho Kyoung-tae, Jin Jong-oh, and Kwon Young-jin—over alleged misconduct, including attempts to block a deputy speaker election, supporting an independent candidate, and using violence.
South Korean soprano Sumi Jo has become the first Asian musician to receive the Maria Callas Special Award, an annual Italian honor recognizing contributions to global opera and classical music. Jo received the 12th edition of the award in Verona, Italy, at a ceremony held as part of the International Maria Callas Festival.
South Korea is grappling with an unprecedented heat wave, reporting record high temperatures of 40.9 C in Daegu and 42.5 C in Yangsan. The extreme heat has caused several heat-related deaths, including a man in Incheon and two farmers in South Chungcheong.
Prime Minister Han Seong-sook honored 68 individuals with state medals and citations for their contributions to projects marking the 80th anniversary of Korea's liberation from Japanese colonial rule, including former lawmaker Lee Jong-chan and professor Yuji Hosaka.
Seoul stocks, led by semiconductor giants, plunged over 5% on Monday as investors locked in profits following a record surge in the previous session. Foreign and institutional investors were net sellers, while the Korean won also depreciated against the U.S. dollar.
Military authorities and police are investigating the death of a Marine noncommissioned officer found with an apparent gunshot wound at an off-base housing unit in Pohang, South Korea. No signs of foul play were found, but the origin of the firearm and ammunition is under investigation.
The South Korean won weakened against the U.S. dollar on Monday, closing at 1,429.8 won per dollar, as foreign investors became net sellers of local stocks, offloading 2.8 trillion won worth. This occurred despite recent foreign exchange interventions by the U.S. and Japan.
Seoul's KOSPI index plunged 5.12% after a record 18% surge, primarily due to foreign investors engaging in profit-taking on semiconductor stocks like SK hynix and Samsung Electronics. Investor sentiment was partially lifted by declining oil prices.
Renault Korea Motors reported a 58.2% sales plunge in July year-on-year due to weak domestic and overseas demand, but recently expanded its export lineup with the flagship Filante crossover to Latin America.
GM Korea Co. announced a 30.6% year-on-year sales increase in July, reaching 42,199 units globally, primarily driven by robust overseas demand for its Trax Crossover and Trailblazer SUVs.
South Korea's top police investigator, Hong Seok-ki, pledged to enhance initial investigations following a bill abolishing the prosecution's direct and supplementary powers. He emphasized cooperation and improved completeness, dismissing concerns about indiscriminate requests.
South Korean men's basketball forward Lee Hyun-jung is prioritizing his commitment to the national team for the upcoming Asian Games, setting aside concerns about a potential NBA contract after his recent San Antonio Spurs Summer League performance. He aims to help South Korea win its first Asian Games gold since 2014.
