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.
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 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.
The South Korean Navy conducted its first combat experiment where a humanoid robot, Pibot, successfully served as a helmsman in simulated scenarios. This initiative, part of a 5.7 billion won project, aims to integrate robotics to address military manpower shortages and build a "smart military."
Former South Korean national team captain Ki Sung-yueng will join "Team K League," an All-Star squad of 24 domestic players, to face Premier League club Manchester City in a friendly match on August 5 at Seoul World Cup Stadium, part of the annual Coupang Play Series.
The South Korean government announced that the US reaffirmed its commitment to the existing Seoul-Washington tariff agreement, setting reciprocal tariffs at 15%, despite new Section 301 tariffs of 12.5% on 60 trade partners, including South Korea.
South Korean newspapers on July 24 reported extensively on statements by "Lee" regarding property holding taxes, indicating a policy direction to differentiate taxes, potentially reducing them for owner-occupied homes while strengthening them for high-value or speculative properties.
A South Korean appeals court acquitted a woman, identified as Kwon, previously convicted of murdering a baby delivered after a 36-week pregnancy termination attempt. The case, which saw two doctors' murder convictions upheld, highlights the legal vacuum in South Korea's abortion laws since decriminalization in 2019.
South Korea's National Assembly elected chairs for six standing committees allocated to the main opposition People Power Party, resolving a weeks-long bipartisan deadlock. This followed an agreement between the PPP and the ruling Democratic Party on a special counsel bill for June 3 election ballot shortages.
The South Korean won reached a two-month high against the U.S. dollar and a 20-month low against the Japanese yen, driven by better-than-expected Q2 GDP growth of 0.6% and strong semiconductor exports. Overseas investors bought 2.1 trillion won in local stocks, pushing the KOSPI up 4.4%.
Tan has been indicted without detention by the Seoul Central District Prosecutors’ Office on multiple defamation charges against President Lee, despite police initially closing the case due to jurisdiction concerns over Tan's foreign nationality and statements made in the US.
The Korean National Police Agency plans to expand its rotational personnel system by H1 next year and permanently transfer officers disciplined for corruption, responding to controversy over alleged mishandling of a high-profile murder case in Gwangju.
President Lee Jae Myung voiced concern over South Korea's massive real estate investment, fearing a Japan-like market collapse. He spoke at a public discussion on real estate policy, as the government plans tax revisions to curb soaring home prices, aiming for social consensus.
South Korea's military warns the public about North Korean landmines potentially washed into southern inter-Korean rivers due to heavy downpours in the North, urging caution and reporting of any suspicious objects near waterways connected to the Han River estuary.
South Korea's economy expanded 0.6% in Q2 from the previous quarter, driven by strong exports, particularly semiconductors. The Bank of Korea noted solid growth despite Middle East tensions, projecting 3% annual growth for 2026, a significant increase from earlier forecasts.
South Korean labor unions are escalating demands for profit-sharing and bonuses across various industries, following Samsung Electronics' concession of over $400,000 bonuses to some employees. Strikes and demands for significant operating profit allocations are spreading from chipmakers to automotive, heavy industries, telecom, and tech sectors, highlighting investor risks.
Seoul's mayor was convicted for illegal polling payments, potentially ending his presidential ambitions and leading to his removal from office if the Supreme Court upholds the verdict, just weeks after winning a fifth term.
Daily average trading volume at South Korea's five major crypto exchanges has fallen to 597.8 billion won, representing 1.59% of the KOSPI market's volume. This significant drop from 11.29% in January is attributed to falling Bitcoin prices, a semiconductor-driven stock market rally, and a focus on altcoins.
South Korean investigators raided the National Election Commission (NEC) headquarters and local branches after detecting evidence that employees manipulated voter turnout data to conceal errors during the June 3 local elections, escalating an ongoing probe into ballot shortages.
South Korea's economy expanded 0.6% in the second quarter, exceeding forecasts, driven by robust exports, particularly semiconductors. This growth puts the country on track for 3% annual GDP growth in 2026, a first since 2021, despite some geopolitical and trade risks.
Eight people were injured, one critically, after a suspected arson and explosion at an apartment management office in Gyeongsan, South Korea. An apartment resident is believed to have set the fire during a discussion on management regulations.
