SK Hynix Raises ₩37T via Nasdaq ADR — Largest-Ever U.S. Listing by a Foreign Company
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SK Hynix listed on the Nasdaq Global Select Market on July 10 under the ticker 'SKHYV', raising approximately $24.5–26.5 billion (₩37–39 trillion). Bookbuilding drew demand seven times the offered shares, making it the second-largest U.S. listing by a foreign company after Alibaba. Proceeds will be used to fund the Yongin semiconductor cluster and the Cheongju advanced packaging fab.
Samsung Electronics posted a preliminary Q2 2026 operating profit of ₩89.4 trillion, setting an all-time quarterly record. The figure represents a 1,810% year-over-year surge, surpassing the company's entire 2025 annual profit in a single quarter. Explosive demand for HBM and server DRAM driven by AI data center investment was the key driver. LG Electronics also posted its best-ever Q2 result, with operating profit up 147% year-over-year.
President Lee Jae-myung Attends Mongolia's Naadam as Guest of Honor, Concludes CEPA in Principle
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President Lee Jae-myung became the first South Korean president to attend the opening ceremony of Mongolia's Naadam Festival as guest of honor on July 11. During the state visit, the two countries declared an in-principle conclusion of Korea-Mongolia CEPA negotiations and adopted the 'Korea-Mongolia Golden Era' joint declaration. They agreed to expand bilateral trade to $1 billion by 2030 and signed 16 new MOUs.
OpenAI Releases GPT-5.6 · Meta Launches Muse Spark Simultaneously — AI Competition Intensifies
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OpenAI made the GPT-5.6 family (Sol, Terra, Luna) publicly available and switched it to ChatGPT's default model. Sol targets peak performance, Terra matches GPT-5.5 at half the cost, and Luna is the lowest-cost option. On the same day, Meta's Superintelligence Lab released multimodal reasoning model Muse Spark 1.1 with a 1-million-token context window, priced at $1.25 per million input tokens — up to one-quarter the cost of major rivals.
20,000 Civil Servants and Teachers Rally on July 11 — Demand Pay Hike and Pension Gap Fix
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Five civil servant and teacher unions, including the Korean Government Employees' Union, held a mass rally of around 20,000 participants in the Gwanghwamun area on July 11. The four core demands included closing the pension income gap, raising wages, and securing basic political rights. The KCTU also declared a general strike for July 15, signaling a broader escalation of labor activism.
China's Long March 10B Becomes World's Second Orbital Booster Recovered at Sea
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On July 10, China Aerospace Science and Technology Corporation's Long March 10B rocket successfully placed a satellite into orbit on its maiden flight and recovered the first-stage booster on a sea platform using a net catch. China became the second country after U.S. SpaceX to recover an orbital launch vehicle booster at sea — the first real-world validation of China's reusable rocket technology.
Impeachment Petition Against Defense Minister Ahn Gyu-baek Surpasses 300,000 — AWOL Allegations
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Allegations that Defense Minister Ahn Gyu-baek went absent without leave for seven months during his 1984 reserve duty service resurfaced, pushing an impeachment petition past 300,000 signatures. The Ministry of National Defense called the claims 'clearly false,' but opposition parties are demanding full disclosure of his military records and his resignation. The controversy coincides with backlash over military academy integration and the push to transfer wartime operational control.
SK Hynix ADR frenzy, IU and Lee Jong-suk breakup, and the July 11 civil servant rally dominate weekend social media and search trends simultaneously
SK Hynix Nasdaq ADR 7x Oversubscribed — Record ₩37T Raised▾
SK Hynix's ADR 'SKHYV' drew bookbuilding demand seven times the offered shares on Nasdaq. Raising ₩37 trillion — the second-largest U.S. listing ever by a foreign company — it became a talking point for domestic and international investors alike.
IU and Lee Jong-suk Confirm Split After 4-Year Public Relationship▾
EDAM Entertainment and A-Fax Factory officially confirmed the breakup on July 10. Both sides stated the two 'decided to remain as good colleagues,' instantly dominating real-time social media trends.
20,000 Civil Servants and Teachers Rally at Gwanghwamun on July 11▾
A coalition of five civil servant and teacher unions held a rally in the Gwanghwamun area calling for wage hikes and a pension income gap fix. Around 20,000 participants turned out, affecting traffic in the area on Saturday.
Consumer prices surge 3.2%, metropolitan area new apartment prices spike 27%, and olive oil acidity mislabeling scandal — consumer frustration reaches a boiling point
June CPI Jumps 3.2% — Highest in 2.5 Years▾
Petroleum products (+24.7%) and daily living costs (+3.4%) rose in tandem, intensifying the burden on households. The government signaled an expansion of tariff quotas on food items in the second half, but consumer discontent continues to grow.
New Apartment Prices in Greater Seoul Up 27.2% in a Year — Gyeonggi 84㎡ Nears ₩1 Billion▾
As of May, the average private apartment sale price in the greater Seoul area hit ₩36.56 million per 3.3㎡, up 27.2% from a year earlier. The average sale price for a standard 84㎡ unit in Gyeonggi Province reached ₩938.03 million, approaching the ₩1 billion mark.
Consumer Agency Finds 12 of 14 Olive Oil Products Misstate Acidity by Up to 3x▾
Amid surging demand for premium olive oil driven by the 'ole-shot diet' trend, testing of 14 products found that 12 had actual acidity levels 128–311% higher than stated on the label.
Lee Jae-myung as Naadam guest of honor in Mongolia, North Korea's premier visits China for first time in 7 years, U.S. proposes 12.5% forced-labor tariff
President Lee Jae-myung Attends Mongolia's Naadam Festival as First Korean Presidential Guest of Honor▾
President Lee Jae-myung attended the opening ceremony of Mongolia's Naadam Festival as guest of honor on July 11 — the first such invitation for a South Korean president. The visit reaffirmed a strategic partnership in critical minerals, energy, and supply chains.
North Korea's Premier Pak Thae-song Visits China for First Time in 7 Years on 65th Anniversary of Friendship Treaty▾
North Korean Cabinet Premier Pak Thae-song made an official visit to China from July 10–12 to attend events marking the 65th anniversary of the Sino-North Korean Treaty of Friendship, Cooperation, and Mutual Assistance. It is the first premier-level delegation sent since 2019.
U.S. USTR Proposes 12.5% Additional Tariff on South Korea Over Forced Labor Compliance▾
The U.S. Trade Representative proposed on July 10 to impose 12.5% additional tariffs on South Korea and dozens of other countries for failing to enforce import bans on forced-labor goods. The South Korean government called the proposal 'inappropriate and unnecessary.'
President Lee Proposes 'Korea-NATO Defense Industry 2.0' at NATO Summit▾
President Lee Jae-myung proposed a 'Korea-NATO 2.0' framework for joint development, production, and operation of defense equipment at the NATO Summit (July 7–8), and secured agreement to open negotiations on a NATO procurement framework agreement.
ADB raises Korea growth forecast 0.7pp to 2.6%, KRW forex market goes 24-hour, MSCI developed market upgrade fails again
ADB Raises Korea Growth Forecast to 2.6% — AI Semiconductor Demand the Key Driver▾
The Asian Development Bank revised up its 2026 South Korea GDP growth forecast from 1.9% to 2.6%, citing strong semiconductor exports driven by a surge in global AI demand.
KRW Forex Market Goes 24-Hour — First Step Toward Won Internationalization▾
Starting July 6, the KRW/USD foreign exchange market began operating 24 hours a day except weekends and January 1. A key institutional reform for Korea's MSCI developed market inclusion bid, Deputy Prime Minister Koo Yun-cheol called it 'the starting point of the Korean won's global leap.'
MSCI Developed Market Upgrade Fails Again — FX Accessibility and Offshore Non-Deliverable Issues Cited▾
MSCI again excluded South Korea from its developed market index watch list in its June annual review. The Korean won's status as an offshore non-deliverable currency and insufficient forex market liquidity were cited as the main reasons.
SK Hynix ADR 7x oversubscription lifts KOSPI 0.62%, Bitcoin spot ETF rebounds after 10-day outflow streak
KOSPI Rebounds 0.62% on SK Hynix ADR Frenzy▾
The KOSPI closed up 0.62% at 7,292 points on July 10. SK Hynix surged 5.83%, leading the index higher, while Samsung Electronics also edged up in a broad recovery.
Global Bitcoin ETFs See $221M Net Inflow — Ending 10-Day Outflow Streak▾
As of July 3, Bitcoin spot ETFs recorded $221 million in net inflows, ending a 10-day run of outflows. BlackRock's IBIT led the charge, and Ethereum ETFs also saw concurrent inflows.
Supreme Court Formalizes Procedure for Seizing and Liquidating Crypto Assets for First Time▾
The Supreme Court pre-announced amendments to civil execution rules, spelling out for the first time the procedures for seizing, freezing, and liquidating virtual assets such as Bitcoin. Step-by-step standards from exchange account freezes to market-price liquidation were established, with implementation set for October.
K-beauty exports hit record $7B in H1 with U.S. overtaking China for first time, Kia EV sales up 151%, K-bio tech exports exceed ₩13T
H1 K-Beauty Exports Hit Record $7B — U.S. Overtakes China for First Time▾
Cosmetics exports surged 27.3% year-over-year to an all-time H1 record. The U.S. ($1.41B) surpassed China ($980M) for the first time, while EU exports also exploded 76.3%.
Kia Sells 72,078 EVs in H1 — Up 151% Year-Over-Year, All-Time H1 Record▾
Kia set an all-time first-half sales record with 72,078 EVs sold in H1 2026. Successful market adoption of mid-to-low-priced new models including the EV3, EV4, and EV5 was cited as the key factor.
K-Bio H1 Technology Exports Exceed ₩13.2T — Up 15% Year-Over-Year▾
Total technology export contract value by domestic pharmaceutical and biotech companies reached ₩13.2253 trillion in H1 2026, up 15% from the prior year. Hanmi Pharmaceutical, AriBio, and OscoTech were among the leading contributors.
Simultaneous release of OpenAI GPT-5.6 and Meta Muse Spark intensifies AI competition; Huawei AI chips confirmed for Korean market in Q4
OpenAI Releases GPT-5.6 Family to the Public — Becomes ChatGPT Default Model▾
OpenAI made the GPT-5.6 family (Sol, Terra, Luna) publicly available. Sol targets peak performance, Terra is positioned at GPT-5.5 quality at half the cost, and Luna is the lowest-cost option. The family becomes ChatGPT's default model.
Meta Superintelligence Lab Releases Muse Spark 1.1 — Priced at One-Quarter of Rivals▾
Meta released Muse Spark 1.1, a multimodal reasoning model with a 1-million-token context window. It is priced at $1.25 per million input tokens — up to one-quarter the cost of Anthropic and OpenAI.
Huawei Confirms Q4 Entry into Korea's AI Chip Market▾
Reports indicate Huawei plans to launch the Ascend 950 series and Atlas 950 SuperPod in South Korea in Q4. The company claims roughly 2.87x inference performance compared to Nvidia's H20 at one-quarter the price, and has already secured two domestic distributors.
Korea Launches 'K-Tech Pioneers' Program to Bring Back 20 Teams of Overseas Korean AI Talent▾
The South Korean government announced the K-Tech Pioneers (KTP) program on July 10 to support the return of 20 teams of overseas Korean experts in AI, robotics, and advanced bio. AI accounted for the largest share, and 10 of the selected teams are based in the western United States.
Twelve Labs closes ₩150B Series B, Carbon Six raises ₩62.3B Series A — major AI and deep tech funding rounds close in succession
Twelve Labs Closes ~$100M Series B Co-Led by NEA and Naver Ventures▾
Video AI company Twelve Labs closed approximately $100 million in Series B funding, with Amazon and Quadril Capital participating. Cumulative investment now exceeds ₩300 billion. The company plans to expand from API services into consumer apps.
Carbon Six Raises ₩62.3B Series A Co-Led by DSC and LB▾
Physical AI startup Carbon Six raised ₩62.3 billion in a Series A round with participation from IMM Investment and KDB Industrial Bank. Its track record of real customer deployments and revenue was a key factor in securing investor confidence.
SpectraIntel Secures Seed Investment from Kakao Ventures▾
SpectraIntel, a deep tech startup founded by KAIST students, secured seed investment from Kakao Ventures. The company is developing 4D surveillance technology using ultra-compact imaging hyperspectral cameras for missile and launch vehicle identification.
President Lee wraps up Mongolia state visit, fallout continues over fake news law, PPP sustains committee boycott
President Lee Concludes Mongolia State Visit with CEPA Deal and Naadam Guest of Honor Appearance▾
President Lee Jae-myung achieved diplomatic results during his July 9–11 state visit to Mongolia, including an in-principle conclusion of CEPA negotiations and attendance as guest of honor at Naadam. The two countries also adopted the 'Korea-Mongolia Golden Era' joint declaration.
Fake News Law Takes Effect July 7 — Up to 5x Punitive Damages Draws Controversy▾
Amendments to the Act on Promotion of Information and Communications Network Utilization took effect July 7, imposing up to five times punitive damages on spreaders of false information and fines of up to ₩1 billion on major platforms. Press and civic groups raised concerns over threats to freedom of expression.
PPP Continues Full Boycott of July National Assembly Standing Committees▾
The People Power Party is maintaining a full boycott of July extraordinary session standing committees in protest of the Democratic Party's unilateral election of committee chairs. The Democratic Party is running 11 standing committees on its own.
Ministry of Climate launches 700MW distribution grid ESS rollout to resolve solar grid access bottleneck in Honam and Jeju
Ministry of Climate Launches 700MW Distribution Grid ESS — Targets 1GW Additional Renewable Energy Connection▾
The Ministry of Climate, Energy and Environment signed agreements with nine operators including LG Energy Solution and SK Eternix on July 10 to build distribution grid ESS. The goal is to deploy 700MW of ESS by 2030 to enable an additional 1GW of renewable energy grid connection.
LG Energy Solution Wins Largest Share of Government Distribution Grid ESS Project▾
LG Energy Solution was awarded 140MWh across seven distribution lines in the Honam region. The project is expected to enable 40MW of new solar connections and accommodate an additional 52.4GWh of renewable energy annually.
Surplus Solar in Honam and Jeju to Be Managed via ESS — Enough to Power 50,000 Additional Households Annually▾
The government is introducing distribution grid ESS to resolve the backlog of solar plants waiting for grid connection due to substation and distribution line saturation. The project is expected to supply enough additional electricity for approximately 50,000 households per year.
MFDS approves rare disease drug Zoenxa, HLB FDA PDUFA deadline approaching July 23, LegaChem unveils ADC roadmap
MFDS Officially Approves Rare Disease Drug Zoenxa on July 10▾
The Ministry of Food and Drug Safety approved Zoenxa (leniolisib phosphate), an imported rare disease drug for patients with PI3K-delta syndrome, on July 10. Designated as the 27th product under the Global Innovative Products Fast Track, it is the first treatment option for patients who previously had none.
HLB Rivoceranib FDA PDUFA Date Set for July 23 — Third Attempt▾
HLB resubmitted its NDA for the hepatocellular carcinoma drug rivoceranib in combination with camrelizumab, with a PDUFA date of July 23. The two prior complete response letters stemmed from manufacturing facility issues at partner Hengrui Pharmaceuticals; resolution of those issues is the critical variable.
LegaChem Biosciences Unveils 2035 ADC Roadmap and AI Research Strategy at R&D Day▾
LegaChem Biosciences held an R&D Day at the Conrad Hotel in Seoul on July 8, presenting its 2035 ADC roadmap, AI-driven research strategy, and updates on clinical progress with global partners.
Civil servant and teacher July 11 rally, KCTU declares July 15 general strike, record 33% of new PhDs unemployed
Five Civil Servant and Teacher Unions Hold July 11 Gwanghwamun Rally — 20,000 Attend▾
A coalition of five unions including the Korean Government Employees' Union held a rally in the Gwanghwamun area on July 11 under four key demands: closing the pension income gap, raising wages, and securing basic political rights. Around 20,000 people participated.
KCTU Declares July 15 General Strike — Demands Principal Employer Bargaining Compliance▾
The KCTU declared a general strike for July 15 on July 8. After demanding bargaining with over 400 principal employers following the revised Trade Union Act's implementation, only four responded, prompting calls for mandatory bargaining compliance and repeal of the Ministry of Labor's enforcement decree.
1 in 3 New PhDs Unemployed — Rate Breaks 30% for First Time at Record 33.3%▾
Of 10,498 new doctorate recipients in 2025, 33.3% were unemployed — the first time the rate has exceeded 30% since records began. Among PhDs under age 30, the unemployment rate was 51.1%, surpassing the halfway mark.
BTS V Becomes First Male Korean Celebrity to Surpass 75M Instagram Followers▾
BTS V surpassed 75 million Instagram followers as of July 9, setting a first-ever record for a male Korean entertainer. It marks another milestone just six months after reaching 70 million in January.
aespa's 'Whiplash' music video surpassed 300 million views on YouTube on the morning of July 10. It is the group's fastest MV to reach 300 million views and their third MV to cross that milestone.
2026 KBO All-Star Game opens at Jamsil · LG Twins lead at All-Star break, Spain reaches World Cup semi-finals
KBO All-Star Game Opens at Jamsil — Last All-Star at Jamsil Stadium▾
The 2026 Shinhan SOL KBO All-Star Game was held at Jamsil Baseball Stadium, with the Home Run Derby and Friday events on July 10 and the main game on July 11. It marks the last All-Star Game at Jamsil Stadium, with Yang Eui-ji selected as starting catcher with the all-time highest vote total.
KBO Enters All-Star Break — LG Twins Lead at 52-33▾
The KBO League entered its All-Star break (July 10–15). The LG Twins lead the standings at 52 wins and 33 losses, locked in a tight race at the top with the Samsung Lions.
Spain Eliminates Belgium in Quarter-Finals — Advances to World Cup Semi-Finals▾
Spain defeated Belgium in the 2026 FIFA World Cup quarter-finals to advance to the semi-finals. Spain had previously eliminated Portugal with a late goal in the round of 16, while Belgium had beaten co-host nation the United States 4-1 to advance.
K-beauty exports hit $7B with U.S. overtaking China for first time, Naver Plus Store satisfaction tops Coupang
H1 K-Beauty Exports Hit Record $7B — U.S. Overtakes China for First Time▾
Cosmetics exports surged 27.3% year-over-year to an all-time H1 record. The U.S. ($1.41B) surpassed China ($980M) for the first time, while EU exports also exploded 76.3%.
Naver Plus Store Satisfaction Rate 84%, Ahead of Coupang's 72%▾
An Opensurvey study found Naver Plus Store's satisfaction rate at 84%, outpacing Coupang at 72%. Primary usage rate for Coupang fell 7.0 percentage points while Naver's rose 7.5 percentage points, signaling a reshaping of the online shopping duopoly.
Consumer Agency Finds 12 of 14 Olive Oil Products Misstate Acidity by 128–311%▾
Amid surging demand for premium olive oil driven by the 'ole-shot diet' trend, a consumer agency test of 14 products found that 12 had actual acidity levels more than three times higher than stated on labels.
Ministry of Land releases Level 4 autonomous vehicle safety guidelines, MasAuto to launch commercial freight autonomous driving in Q3
Ministry of Land Issues Level 4 Fully Driverless Autonomous Vehicle Safety Guidelines▾
The Ministry of Land, Infrastructure and Transport released guidelines on July 7 covering provisional operation permit standards for Level 4 autonomous vehicles. Requirements include at least 15,000km of proven test-driving prior to road operation and real-time monitoring by a remote control center.
MasAuto to Launch Korea's First AI Autonomous Trailer Commercial Service in Q3▾
Autonomous driving startup MasAuto has obtained a freight-for-hire permit from the Ministry of Land and will launch commercial service in Q3. Using Hyundai Motor's Xcient trucks, it will operate routes between Cheonan/greater Seoul and the Port of Busan.
Kia Sells Record 72,078 EVs in H1 — Up 151% Year-Over-Year▾
Kia set an all-time first-half domestic EV sales record with 72,078 units in H1 2026. Successful market adoption of mid-to-low-priced new models including the EV3, EV4, and EV5 was cited as the key factor.
Home prices rebound in Dongtan and Giheung despite new regulations, posting nation's top gains; Seoul new apartment prices break ₩60M per 3.3㎡ for first time
Home Prices Rebound in Dongtan, Guri, and Giheung Despite Restrictions — Top Gains Nationwide▾
Hwaseong's Dongtan District, designated a speculative overheating zone from July 1, saw apartment sale prices rise 1.29% in its first week — the highest gain nationwide. Analysts attributed the result to supply shortage concerns outweighing the impact of the new restrictions.
Seoul New Apartment Price Hits ₩63.55M per 3.3㎡ — Breaks ₩60M Barrier for First Time▾
Construction cost index hit a 4-year 3-month high (136.88), pushing Seoul private apartment sale prices above ₩60 million per 3.3㎡ for the first time. The greater Seoul area average also surged 27.2% in a single year.
July Housing Sales Outlook Index Jumps 18.2 Points to 87.6▾
The July apartment sales outlook index among housing developers rose 18.2 points month-over-month to 87.6, reflecting a rapid recovery in market sentiment. Approximately 20,000 units are planned for supply in greater Seoul, centered on Gyeonggi and Incheon.