Supreme Court confirms Yoon's 7-year sentence·Iran retaliatory strikes Fed divisions·Ukraine drone strikes Russian oil tankers

The Supreme Court on the 9th confirmed ex-President Yoon's 7-year sentence in the appeal of arrest obstruction charges. As the first Supreme Court judgment among 8 trials related to the emergency martial law, it ranked first in online searches.

Heavy downpours on the 9th-10th in the Seoul metropolitan and Chungcheong regions caused damage videos and evacuation guidance posts to spread rapidly on SNS. Chungnam's Cheonan received 266mm of torrential rain.

IMF raised Korea's 2026 growth forecast from 1.9% to 2.6% on July 8, a 0.7 percentage point increase—the largest among 30 major economies. Expanding AI investments driving semiconductor and AI hardware exports are the main drivers.

Enterprise AI agent platform Prime Intellect became a unicorn with $130 million fundraising, and legal AI Norm also achieved $1.2 billion valuation in its $120 million Series C.

As manual therapy transitioned to managed coverage from July 1, with annual limits of 15 sessions and mandatory prior treatment requirements, some major hospitals announced manual therapy room closures, causing patient confusion.

The government extended fuel tax cuts of 15% for gasoline and 25% for diesel through July 31, but average nationwide gasoline prices remain around 2,000 won, failing to ease consumer burden.

President Lee met with National Assembly Speaker Bumbur and PM Oyun-Erdene in Mongolia on the 10th and attended a state banquet hosted by President Khurelsukh. This is his second official visit following the NATO summit.

With the Aug. 17 Democratic Party National Convention approaching, Jung Chung-rae, Kim Min-seok, and Song Young-gil are competing for party leadership, with Jung's announcement likely this week.

The People Power Party continues boycotting the July interim session in protest of the Democratic Party's unilateral committee chairman elections. The Democratic Party operates committees independently and pushes livelihood legislation.

Gyeonggi Provincial Office of Education held a phone-free school policy briefing at Anyang Arts Center. With 77% of residents supporting in-school smartphone collection, reading, arts, and physical education integrated curriculum will accompany implementation.

The Korean University Association will hold the 2027 college early admissions information fair at COEX July 23-25, with 150 universities nationwide participating. One-on-one consultations with admissions officers will also be available.

The Ministry of Science and ICT announced selection of 8 additional non-Seoul AI-focused universities to address concentration concerns. It will simultaneously expand regional AI talent cultivation policy with the Education Ministry.

The June FOMC minutes released on July 8 showed board members split between those advocating for maintaining current rates and hawks arguing for further hikes. The current federal funds rate is at 3.5-3.75% level.

The New York Fed survey released on the 9th showed consumer 1-year inflation expectations surged to 3.7%, the highest level in 3 years. Among companies directly hit by tariffs, 47% plan further price hikes.

On the 9th, Kospi closed at 7,291.91, up 45.12 points from the previous day. Kosdaq also rose 9 points to 794.00, showing simultaneous recovery.

Nasdaq closed on the 9th at 26,206.89, up 1.30%, while S&P 500 rose 0.81% to 7,543.65. Dow Jones also gained 139 points to 52,487.41.

Bitcoin reached $62,666 on the 9th, up $582 from the previous day. It bounced about 10% for the month of July but remains over 30% down from year start.

Korea Real Estate Board's week 1 July survey shows Seoul apartment prices up 0.30%, widening from previous week's 0.27%. Jeonse prices also rose, with year-to-date cumulative gains reaching 5.42% for both sales and jeonse.

Despite the government designating Hwaseong Dongtan, Yongin Giheung, and Guri as speculative overheating zones and land transaction permit areas from July 1, apartment prices paradoxically surged post-announcement.

Deputy PM Koo Yoon-chul announced the tax reform plan for end-July, outlining concurrent multi-home holder property tax rate increases, fair market value ratio hikes, reinforced holding taxes, and eased transaction taxes.

Enterprise AI agent building platform Prime Intellect completed $130 million Series A led by Radical Ventures, reaching $1 billion valuation. Its annual recurring revenue reportedly exceeds $100 million.

Regulatory industry legal AI startup Norm AI closed $120 million Series C led by Khosla Ventures, achieving $1.2 billion valuation and unicorn status. It raised over $260 million cumulatively in 3 years since founding.

Woori Financial Group unveiled an innovative company investment system from initial discovery to pre-IPO at the 2026 WFRI Conference. It features a growth ladder structure linking DenoLab Fund, CVC, and Woori Venture Partners.

Waymo launched fully autonomous robotaxi service in Las Vegas, San Diego, Tampa, and Denver. The company is accelerating toward its 1 million weekly ride goal, with U.S. autonomous service coverage rapidly expanding.

Korea shifted electric vehicle subsidy criteria to performance achievement starting July. Concerns arose that imported vehicles like Tesla and BYD could face disadvantages.

Despite Samsung's strong earnings, questions about spending sustainability led to Intel down 21%, AMD down 8%, and over $1 trillion in global semiconductor market value evaporating, according to Forbes.

The U.S. CMS established the Health Technology Products Office to oversee AI, interoperability, and digital health tools, launching a comprehensive federal digital health strategy, according to Healthcare Dive.

The U.S. launched retaliatory strikes on some 90 Iranian sites including air defense systems, with President Trump announcing ceasefire termination. Iran retaliated against U.S. military bases in Bahrain, Kuwait, and Qatar with missiles and drones.

Ukrainian forces attacked 36 Russian oil tankers and refining facilities with drones over 4 days in the Azov and Black seas. As fuel shortages emerged in Russia, Moscow banned diesel exports.

Marine Le Pen officially announced her intention to run in the 2027 French presidential election immediately after receiving an ankle monitor order following a conviction for misappropriation of public funds.

Eli Lilly's oral GLP-1 orforglipron showed superior blood sugar and weight loss outcomes compared to oral semaglutide in Phase 3 trials, according to ScienceDaily.

The U.S. FDA granted accelerated approval on the 7th to Vera Therapeutics' atacicept (Trutakna) for treating IgA nephropathy in adults. Clinical trials confirmed 46% reduction in proteinuria.

Record downpours exceeding 200mm—266mm in Cheonan, Chungnam—on the 9th caused damage to 256 facilities and evacuated 662 people from Chungcheong region. A fatal motorcycle accident occurred in Chungju, Chungbuk.

Nova Scotia approved the Oceanlake wind project. Once operational, it will reduce greenhouse gas emissions by 1.94 million tons annually and supply power to 404,000 households.

TXT's Yeonjun released his second solo mini album 'NO LABELS: PART 02' on the 10th at 1 PM. Title track 'Ice Cream' is a punk-rock song capturing the excitement of romance.

Netflix original 'The Apartment Job' starring Ji Sung, Ha Yoon-kyung, and Moon So-ri premieres July 11. The 12-part thriller-comedy follows an ex-mobster running for apartment representative chairman.

Karolína Muchova defeated Coco Gauff 6-2, 1-6, 7-6(10) in the semifinal on the 9th to advance to the final. Linda Nosková also beat Kostyuk 6-4, 7-5, setting up the first all-Czech Wimbledon women's final.

Tadej Pogacar won stage 6 of Tour de France at Tourmalet on the 9th, dropping Jonas Vingegaard by 2:38 to claim the yellow jersey. This marks his 23rd individual Tour stage victory.

FIFA World Cup 2026 quarterfinals began on the 9th at multiple venues across North America. Remaining quarterfinal matches continue through July 10-12.

First half 2026 pop-up store openings nationwide reached 2,130, up 44.9% from previous year. Yongsan-gu increased 2.5-fold from 66 to 165, emerging as a new hotspot alongside Seongsu-dong.

Limited edition platform Cream's 2026 first half report shows Pokémon and One Piece IP cards surpassing sneakers in transaction volume. K-fashion brand Amour recorded 11-fold growth in half-year transactions.

Seoul city and the Green Consumers Association's survey of 24 Seongsu-dong and The Hyundai Seoul pop-ups found all failed to collect privacy consent, and 23 failed to provide portrait rights notices, violating legal obligations.