An appellate court ordered SK Group Chairman Chey Tae-won to pay 944 billion won to his former wife in a divorce-related property division case. The court also left intact the 2 billion won alimony payment.
South Korean President Lee Jae Myung supports raising property holding taxes amid real estate market concerns. Seoul stocks surge over 4% driven by tech rally. Labor participation among youths (15-29) drops in May. US House Appropriations subcommittee officials inspect South Korean shipyards for warship capabilities. Monsoon season to end early next week, followed by a heat wave.
A Seoul court fined Mayor Oh Se-hoon 10 million won for violating the Political Funds Act over opinion poll payments tied to his 2021 mayoral by-election campaign. If upheld on appeal, the ruling could cost him his job.
South Korean prosecutors have requested a one-year prison sentence and a 20m won fine for the owner of a two-Michelin-starred Seoul restaurant. The charges stem from violating food sanitation laws by serving desserts topped with ants, an insect not approved for consumption under local regulations.
South Korea's foreign ministry clarified its cooperation with NATO aims for global peace, responding to Russian concerns. Separately, three Korean films received invitations to the Toronto International Film Festival. Domestically, the FSS chief pledged a swift disciplinary process against MBK Partners over Homeplus, while rival parties agreed to pass a special counsel bill for election ballot shortages. The industry ministry also confirmed stable crude oil supply despite Middle East tensions.
South Korea's government and ruling party plan to reinvest increased tax revenue from robust semiconductor exports into youth and regional development, while also easing military zone restrictions. This comes as exports surged 52.3% in early July driven by chips, and Seoul stocks rebounded. Separately, LIG D&A partnered with Airbus for next-gen unmanned aircraft.
South Korean stocks plunged over 4% amid AI concerns and Mideast tensions. Simultaneously, the acting police chief vowed to overhaul the investigation system, Daejeon was selected to host the 2029 Invictus Games, Homeplus appealed to revive rehabilitation, and UNESCO officials in Busan urged global action to protect heritage sites.
South Korea President Lee Jae Myung announces plans for a 'future response fund', Seoul shares plummet 9% amid Middle East tensions, and former President Yoon Suk Yeol is sentenced to 2 years in prison
Seoul shares plummet 5.25% amid Middle East tensions, heat wave intensifies with record lows, missing sailor's body recovered, exports surge 53.9% driven by chips, and Homeplus temporarily closes outlets due to financial woes.
Heavy downpours cause flooding, Seoul shares trim gains, SK Group chief visits US, President Lee arrives in Mongolia, BOK governor sees need for rate hike
Seoul shares plunged 5.4% on Wednesday, with the KOSPI index closing down 409.52 points at 7,246.79, as technology stocks continued their decline and investors reassessed AI trade prospects. The Korean won strengthened against the U.S. dollar.
South Korea to negotiate NATO procurement agreement, posts record May current account surplus, faces monsoon rains, receives US inquiry on naval shipbuilding capacity, and sees labor union strike plans and a landmark court ruling on delivery rider employee status.
Seoul's stock market plunges nearly 5% due to tech weakness, monsoon rains forecasted for South Korea, a new Earth observation satellite launched, Incheon International Airport reaches 1 billionth passenger, and Canada prioritizes NATO ties in a submarine project over a South Korean consortium.
South Korean stocks plummeted nearly 8% amid tech sell-offs and AI concerns, while a parliamentary committee inspected a blockaded vote counting site. The OECD warned of South Korea's vulnerability due to dependence on chip exports, and the foreign ministry expressed regret over a U.S. report alleging discriminatory treatment of Coupang.
South Korea's consumer prices hit a 30-month high in June due to the Middle East war's impact. The government announced a 392 trillion won investment in the Chungcheong region for AI-led growth, including HBM fabs by Samsung and SK hynix. Meanwhile, Seoul stocks plunged over 2.8% amid a tech sell-off.
President Lee Jae Myung seeks ruling party unity amid factional tensions, South Korean stocks dip over 2% due to tech losses and Iran deal uncertainty, household loans at major banks increase sharply, parliamentary committee investigates ballot shortages, and new PM Han Seong-sook vows to align government with the private sector.
South Korea's monthly exports exceeded $100 billion for the first time in June, driven by chip performance. President Lee Jae Myung met ex-President Moon to address party rifts. The government denied rumors of a new think tank for chipmaker profits. Defense Minister Ahn Gyu-back advocated for a unified military academy. The FTC is investigating Google for fair trade violations. New PM Han Seong-sook vowed to align government policies with the private sector.
South Korea lowers energy security alert for crude oil to Level 2 amid stabilized global prices. Three Gyeonggi areas designated as speculative zones due to rising home prices. National football team faces backlash after early World Cup exit. President Lee reports most South Korean vessels have left the Strait of Hormuz. Industrial output declines in May due to chip production adjustments.
Yonhap News Agency held its annual Korean Peninsula Symposium in Seoul, focusing on security policy amid weakening alliances and economic security challenges. Key figures discussed North Korea's nuclear issue, pragmatic diplomacy, and strengthening the South Korea-U.S. alliance.
Yonhap News Agency hosted a symposium on security policy amid weakening alliances and economic challenges. South Korean stocks plummeted nearly 6% as investors sold AI-related stocks. Ex-first lady Kim Keon Hee was sentenced to 7 years for bribery. Eight more S. Korean vessels exited the Strait of Hormuz post-ceasefire, and President Lee emphasized technology's role in national security.
Yonhap News Agency held its annual Korean Peninsula Symposium in Seoul, focusing on security policy directions amidst weakening alliances and economic security challenges. Key figures discussed approaches to North Korea, pragmatic diplomacy, and industrial growth, with U.S. representatives emphasizing the alliance.
S. Korea and Japan defense ministers to meet, S. Korea to lower fuel prices and freeze utility rates
South Korea's Son Heung-min expresses regret over World Cup loss to South Africa; Navy launches submarine tugboat; condolences for Venezuela earthquake victims; military tech-focused NCO track planned; former leaders call for global cooperation; KOSPI surges over 5% on chip rally.
North Korean soldier defects to South Korea; Presidential policy chief calls for AI infrastructure investment; Four South Korean vessels exit Strait of Hormuz post-ceasefire; Ex-Prosecutor General questioned over martial law role; Ruling party chief resigns ahead of reelection bid.
