South Korea welcomed the U.S.-Iran ceasefire agreement, expressing hope for stability in the region and safe passage for vessels, including 24 South Korean-linked ones, through the Strait of Hormuz.
South Korea's presidential office welcomed the US-Iran ceasefire deal, particularly its inclusion of reopening the Strait of Hormuz. However, officials expressed caution, stating they will monitor if the agreement leads to an immediate reopening and noting that nuclear negotiations could impact the ceasefire.
South Korean President Lee Jae Myung invited Pope Leo XIV to visit South Korea during World Youth Day 2027. The leaders discussed inter-Korean peace initiatives, with the Vatican reaffirming support.
South Korean President Lee Jae Myung invited Pope Leo XIV to visit South Korea during the country's hosting of World Youth Day 2027. The invitation was extended during a meeting at the Vatican, where they also discussed cooperation for the event and peace on the Korean Peninsula.
Doosan Enerbility secured a 530 billion-won ($350 million) contract to build an 870-megawatt combined cycle power plant in Duqm, Oman. The project, slated for completion by 2029, aims to meet growing electricity demand in southern Oman.
South Korea and Qatar have discussed cooperation in energy and other cutting-edge industries. Qatar reaffirmed its commitment to prioritizing LNG supply to South Korea, despite previous force majeure declarations due to missile attacks.
The South Korean won reached a near two-week high against the dollar on Monday, driven by optimism over a preliminary peace deal between the US and Iran. The won's strength coincided with foreign investors becoming net buyers of local stocks, boosting the KOSPI index.
A Mexican man, Ulises Fernando Bernal Miramontes, has been widely condemned for a video showing him making a racist gesture towards people of Asian descent at the World Cup. The video, posted by South Korean influencer Yoon Su-jin, sparked outrage online, with many Mexicans denouncing the man's actions and apologizing on his behalf.
South Korea's COFIX, a benchmark for bank mortgage rates, rose 0.01 percentage points to 2.90% in May, marking the second consecutive monthly increase. This rise occurs despite the Bank of Korea holding its key rate steady, amid expectations of a future hike.
South Korea's Unification Ministry stated its commitment to rebuilding inter-Korean trust and respecting North Korea, despite Pyongyang's sharp accusations labeling Seoul an "invariable enemy state." The ministry cited goodwill gestures as proof of its peaceful coexistence policy.
An agreement between the US and Iran to reopen the Strait of Hormuz is expected to allow 24 South Korean-linked vessels and 137 sailors to depart. However, uncertainty remains regarding the exact terms of the deal and potential obstacles like naval mines and internal Iranian instability.
South Korea's defense ministry announced Monday it will consider concrete ways to help stabilize the Strait of Hormuz, a vital shipping lane, following a U.S.-Iran peace deal. No decisions on military asset deployment have been made yet.
South Korea launched a joint inspection of 42 workplaces handling military explosives on Monday, following a deadly blast at a Hanwha Aerospace plant that killed five people. The inspection aims to review safety protocols and practices related to the manufacturing, storage, and testing of explosives.
South Korea's media watchdog chief, Kim Jong-cheol, pledged bold regulatory reforms to foster a healthy media environment, focusing on broadcast advertisements and programming. Plans include establishing a media development committee and addressing JTBC's financial issues.
Starbucks Korea is facing public anger for its "Tank Day" reusable cup promotion on May 18, the 46th anniversary of the Gwangju uprising, a deadly military crackdown on a pro-democracy movement where 165 civilians were killed.
Ulises Fernando Bernal Miramontes apologized after being filmed making a racist gesture at a World Cup match in Guadalajara. The incident, posted by a South Korean content creator, sparked backlash, leading to his removal from a Mexican engineering guild.
Following a US-Iran peace deal, South Korea's diplomatic focus shifts to ensuring safe passage for 24 stranded ships with 137 Korean sailors in the Strait of Hormuz, a critical energy import route.
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 and Cambodia discussed expanding economic ties and cooperation on official development assistance (ODA) programs, building on their free trade agreement (FTA). Trade Minister Yeo Han-koo met with Cambodian Deputy Prime Minister Sun Chanthol in Seoul.
South Korea's tourism agency is offering a 5,000 won discount on bus fares to 8,000 foreign visitors to encourage travel outside Seoul. The initiative, in partnership with Klook and Go Hanpass, aims to boost regional tourism and ease overcrowding in the capital.
Container shipping costs from South Korea to the Middle East increased for the third consecutive month in May, reaching 6.81 million won for a 40-foot container, amid ongoing tensions involving Iran.
South Korea will participate in the Eurosatory 2026 defense exhibition in Paris to promote exports of its homegrown arms products. The event will feature displays from 12 small and medium-sized companies, alongside 21 other defense firms, aiming to attract overseas buyers.
The South Korean won strengthened to its highest level in nearly two weeks against the U.S. dollar on Monday, following U.S. President Donald Trump's announcement of a peace deal with Iran. Global oil prices also dropped on the news.
South Korea resumed training Sunday in Zapopan, Mexico, to prepare for their FIFA World Cup Group A match against Mexico on Thursday. Both teams won their openers, with South Korea beating Czechia 2-1 and Mexico defeating South Africa 2-0. Key players Kim Tae-hyeon and Bae Jun-ho are recovering from ankle injuries.
