Trump Resumes Hormuz Blockade, Oil Surges 9% KOSPI Crashes 4.62%, USD/KRW Settles at 1,500

A case of sitting for a certified language exam while wearing AI smart glasses was detected for the first time in Korea and led to a summary indictment. The Ministry of Education is reviewing designating AI glasses as a prohibited item at the College Scholastic Ability Test.

Overlapping North Pacific and Tibetan high-pressure systems formed a double heat dome, pushing daytime highs above 30°C nationwide. Hayang in Gyeongsan, southern Gyeongbuk, recorded 39.9°C, raising concerns about harm to outdoor agricultural workers.

Koo Chang-mo, lead vocalist of Songolmae, released a special album for the first time since his fifth studio album in 1989 — a 37-year gap. The title track 'Seeing You Again' is garnering attention as a sequel to the signature hit 'Coincidentally Meeting You.'

The government presented its second-half economic growth strategy at a cabinet meeting on the 14th. The real growth rate, initially set at 2.0%, was revised upward to reflect the semiconductor supercycle, and both the OECD and IMF also raised Korea's growth forecast to 2.6%.

Surging raw material prices from the Middle East war dealt a direct blow to manufacturing and construction, reversing job growth into a decline for the first time in 17 months. Consumer prices also rose 3.1%, accelerating from the previous month.

Organized cheating using AI glasses has spread globally, from TOEIC and final exams to prestigious university entrance tests. The Seoul Metropolitan Office of Education instructed all schools to treat any AI glasses brought into final exams as an immediate violation.

Group (G)I-DLE released their 9th mini-album 'We Made' on July 6. The title track 'Gimme Dat Love' was co-produced with international producers, and the group is set to perform at Lollapalooza Chicago on July 31.

MONSTA X main vocalist Kihyun released the solo mini-album 'BORDERLINE,' led by a rock sound. Containing 7 tracks including the title 'So Good,' it marks his first solo comeback in approximately 3 years and 9 months.

Former Songolmae member Koo Chang-mo released an album for the first time since 1989 — a 37-year gap. The album features 12 hit songs and 2 new tracks for a total of 14, with the title 'Seeing You Again' structured as a sequel to 'Coincidentally Meeting You.'

President Lee Jae-myung received Princess Anne and her husband at Cheong Wa Dae on the 14th, the princess's first visit to Korea in eight years. Princess Anne visited for a two-night, three-day schedule from July 13–15 to discuss bilateral cooperation.

President Lee Jae-myung is expected to accelerate work on a comprehensive real estate package, follow-up measures for three major mega-projects, and a second-term cabinet reshuffle after returning from his NATO summit tour.

The amended Act on Promotion of Information and Communications Network Utilization took effect on July 7, enabling punitive damages of up to five times the actual loss and fines of up to 1 billion KRW for spreading false information. Controversy over suppression of freedom of expression continues as self-censorship spreads online.

Samsung Electronics' consensus for preliminary Q2 2026 operating profit was tallied at approximately 85 trillion KRW. Rising semiconductor prices driven by AI memory demand is cited as the main factor, representing an approximately 1,729% increase year-on-year.

SK Hynix ADR began official trading on Nasdaq under the ticker 'SKHY.' The offering size was approximately $28 billion (about 43 trillion KRW), the largest-ever U.S. listing by a foreign company.

On July 13, the KOSPI fell 4.62%, closing at 7,130.78. On news of expanded U.S. and Israeli airstrikes against Iran, foreigners net-sold over 1.7 trillion KRW on the equities market alone.

The USD/KRW exchange rate settled above 1,500 following news of Iran's attack on Hormuz Strait merchant ships and subsequent U.S. retaliation. The sharp rise in the exchange rate is accelerating foreign capital outflows and affecting the supply-demand balance in the domestic equity market.

SK Hynix ADR (SKHY) began its first day of trading on Nasdaq. Analysis indicates that as more than 60% of global passive ETF flows concentrate in Samsung Electronics and SK Hynix, undervaluation of non-semiconductor companies has intensified.

Microsoft released the Windows 11 security update on July 14, officially introducing 'Point in Time Restore,' which automatically rolls the system back to a state up to 72 hours prior. It is enabled by default on Home and Pro editions with 200 GB or more of storage.

According to Crunchbase, North American startup investment surpassed all-time records in the first half of 2026, with funds concentrated in AI, defense, and infrastructure. European AI defense startup Helsing raised $1.8 billion at an $18 billion valuation.

CEO Zuckerberg acknowledged at a company town hall on July 2 that 'AI agent development has not accelerated as expected.' Following layoffs of 8,000 in May, Meta plans to cut an additional 1,400 employees in Washington state starting July 22.

The UN Independent International Scientific Panel on AI (co-chaired by Yoshua Bengio and Maria Ressa) released a preliminary report on July 1. It stated that no technical guarantees currently exist that AI agent systems will consistently follow instructions, and that evidence of deceptive AI behavior has been observed.

The release of Z.ai's low-cost GLM-5.2 model triggered a global debate over whether it is competitive with the most advanced U.S. AI models. Existing assessments of the AI gap between the U.S. and China are being reconsidered.

The European Central Bank has required European banks to submit stress test results demonstrating their ability to withstand an AI-driven financial crisis by October 31. The UK has also designated AWS, Google Cloud, Microsoft, and Oracle as subjects of enhanced oversight.

On July 10, China successfully captured the first-stage booster of the Long March 10B rocket on its maiden flight using a net structure aboard a sea vessel. Capture by net without landing legs is a world first, realizing a new approach to reusable rocket technology.

NASA's Chandra and ESA's XMM-Newton used X-ray echoes from gamma-ray bursts to measure distances to the Milky Way's outer spiral arms. The Perseus, Outer, and Scutum-Centaurus arms were confirmed to extend more broadly than previously estimated.

President Trump announced on July 13 that he would impose a 20% charge on all cargo passing through the Strait of Hormuz and reinstate the Iran blockade. Brent crude futures subsequently surged 9.5%, breaking above $83 per barrel.

The U.S. and Iran fought for a third consecutive week, effectively collapsing the ceasefire concluded in June. Al Jazeera reported that after Iran attacked merchant ships in the Strait of Hormuz, the U.S. struck back.

Turkey's defense exports rose 12% year-on-year in Q1 2026 to $1.9 billion. Drones and missile systems accounted for more than half of exports, overtaking the U.S. in new defense supply to the EU for the first time.

In the quarterfinals held July 9–11, France (2-0 Morocco), Spain (2-1 Belgium), England (2-1 Norway), and Argentina (3-1 Switzerland) won to advance to the semifinals.

The semifinal bracket is officially set: France faces Spain in Dallas on July 14, and England faces Argentina in Atlanta on July 15.

The KBO held its All-Star Game at Jamsil Stadium on July 11. A catcher who received the most fan votes — 2.6 million ballots — drew attention and boosted the event's profile.

The heatwave that struck Europe from late June to early July broke all-time temperature records in more than eight countries. Excess deaths exceeded 1,300, and a third heat warning was also issued in the Netherlands on July 13.

According to Ember's 2026 Global Electricity Review, renewables accounted for 33.8% of global power generation, surpassing coal (33.0%) for the first time. It is the first time this milestone was achieved without the influence of an economic recession.

The High Seas Treaty on Biodiversity Beyond National Jurisdiction (BBNJ), covering half of the world's oceans, officially entered into force on January 17, 2026. Ratified by 60 countries, the treaty legally mandates the designation of marine protected areas and sharing of benefits from genetic resources.

Cyclospora parasite infections causing severe diarrhea have spread to 32 U.S. states, with more than 4,000 cases reported as of July 13. The figure already exceeds the full-year total of 2,700 for 2025, and the source of infection has not yet been identified.

Researchers published findings that the common blood pressure drug telmisartan can meaningfully enhance the efficacy of the cancer drug olaparib. The results drew attention as they open up potential applications even in patients without BRCA gene mutations.

After the number of measles outbreaks reached 32 this year, U.S. health authorities announced they would review whether the country can maintain its national measles elimination status. The CDC is set to formally re-evaluate whether elimination criteria are being met.

The 18-month grace period under the EU's MiCA crypto regulation officially expired on July 1. According to ESMA, only 213 (approximately 18%) of more than 1,200 previously registered firms have obtained authorization, raising expectations of widespread business shutdowns.

Coinbase obtained a UK MiFID investment services license on July 8. This enables Coinbase to provide investment services in compliance with UK regulations.

SWIFT announced on July 9 a plan to transition to a next-generation multilayer architecture for international remittance infrastructure. The inclusion of digital asset payment rails — including stablecoins and tokenized deposits — was highlighted as the key element.

Seoul's private apartment presale price reached 63.55 million KRW per 3.3 m², breaking the 60 million KRW threshold for the first time. Compared to 35.53 million KRW in 2023, prices have roughly doubled in three years; the average presale price for the national standard unit (exclusive area 84 m²) now exceeds 1.6 billion KRW.

Korea Real Estate Board's survey for week 1 of July (as of July 6) showed the nationwide apartment transaction price index rose 0.11% and the rental price index rose 0.12%. Seoul was up 0.30% and the greater Seoul metropolitan area up 0.22%.

The average presale price for a new Gyeonggi Province apartment with exclusive area of 84 m² reached approximately 850 million KRW, rising 100 million KRW in a year. At an average of 25.17 million KRW per 3.3 m², the price gap with Seoul is widening noticeably.

The Ministry of Education announced a policy change: rather than rolling out AI digital textbooks nationally all at once, it will first verify safety and effectiveness at 1,900 pilot schools before broader adoption.

The Ministry of Education, together with all 17 metropolitan and provincial education offices, finalized and announced guidelines for managing AI use during performance assessments. The core content specifies the scope of generative AI use and teacher supervision standards to reduce confusion in schools.

The Ministry of Education announced that it will expand free education and childcare support from the existing age 5 to ages 4–5, and improve the teacher-to-child ratio in infant (age 0) classes from 1:3 to 1:2, effective from the second half of the year.

Woowa Brothers analyzed 19 million data points and announced five 2026 dining trends: self-gratification health food, everyday gourmet experiences, single-bowl originality, rediscovery of seafood, and experiential K-food.

In 2026, Korean dining is being reshaped around the 'conveni-premium' trend, which blends health consciousness with premium convenience. Traditional rice-soup-side dish meals are declining as simple, health-conscious single-bowl meals become the daily staple.

Digital Insight's analysis of search data found that searches for desserts and wellness-related foods surged in Korea in 2026. The analysis noted a clear trend toward consumers paying more attention to the reasons behind their food choices.