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The Latest Breaking News from Lee Jae Myung

South Korea to launch $3.5 billion chip fund, speed development of semiconductor hubs

The government will also provide a further 5 trillion won in trade finance for suppliers, Presidential Chief of Staff Kang Hoon-sik told a press briefing after a meeting chaired by President Lee Jae Myung on ‌Monday.

The Economic Times

Police raid South Korea FA headquarters over appointment of disgraced World Cup coach

Scrutiny over Hong’s appointment as South Korea manager has resurfaced after a dire World Cup campaign

The Independent UK

At least 21 dead as Seoul nears its hottest day on record

‘Extreme heat on a scale we have never experienced is continuing day after day,’ says Lee Jae Myung

The Independent UK

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South Korea to revive stalled rail project that could connect to North Korea

South Korea will restart a railway project connecting to North Korea's Wonsan city. This project aims to improve access to peace and ecological tourism sites. The government also plans to broaden the use of its Inter-Korean Cooperation Fund. Multilateral talks involving North Korea are currently difficult, according to the foreign…

The Economic Times

South Korea revives rail project that could link to North

SEOUL - South Korea will restart work on a railway section that could eventually link to the city of Wonsan in North Korea, the Unification Ministry said on Wednesday, reviving a project halted for a decade despite frozen relations with Pyongyang.

Bangkok Post

South Korea's record heatwave kills 16 as temperatures hit a 122-year high.

South Korea's president has taken decisive action to assist individuals suffering from the recent heatwave as temperatures reached a staggering 42.5°C, leading to 16 unfortunate deaths. The nation’s weather agency has activated its first severe heatwave alert for the capital, highlighting a concerning transformation in climate patterns. With heatwaves intensifying…

The Times of India

South Korea's heatwave kills 16

SEOUL — South ⁠Korean President Lee Jae Myung urged on Tuesday authorities to ‌step up support for people affected by a record heatwave in the country, saying the death toll had risen ⁠to 16 and warning that extreme weather was becoming more frequent.

Bangkok Post

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Seoul braces for heatwave sweeping South Korea as death toll reaches 16

Trucks are dousing capital’s roads with water and nurses are checking on vulnerable people as heat heads westwards

The Guardian - AU

Samsung profit jumps 1,814% as South Korean tech giants benefit from global AI boom

Operating profit at Samsung’s semiconductor division rose to more than 220 times its year-earlier level. However, the company warned that memory chip shortages could worsen next year as AI infrastructure expands rapidly.

Euronews

South Korea's SK Hynix, Samsung Electronics sign $950 billion partnership with US big tech

The partnership includes the long-term supply of $750 billion in memory chips to US companies by SK Hynix ‌and $200 billion in chips by Samsung Electronics ⁠to Broadcom, the presidential adviser, Kim Yong-beom, said at a briefing.

The Economic Times

South Korea President Lee looking to open new era of AI in with global tech companies

President Lee delivered a keynote address unveiling a "San Francisco AI Declaration" that outlined South Korea's AI ambitions and its vision for technological cooperation with the United States. Lee separately met Nvidia CEO Jensen Huang, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Broadcom CEO Hock Tan, before joining…

The Economic Times

South Korean memory giants Samsung and SK Hynix are set to announce massive deals with leading U.S. tech firms, report claims — Korean president arrives in Silicon Valley for meetings and high-profile AI summit

Samsung and SK Hynix are expected to unveil multibillion-dollar memory-chip partnerships with major U.S. technology companies during South Korean President Lee Jae Myung’s visit to San Francisco

Tom’s Hardware

Samsung, SK Hynix to announce major chip deals with US tech companies, Seoul says

Samsung Electronics and SK Hynix are set to announce major long-term memory chip supply deals with US technology companies during South Korean President Lee Jae Myung’s visit to San Francisco. The visit is also expected to bring strategic AI data centre investments and deepen US-South Korea technology ties.

The Economic Times

South Korea abandons hardline stance on North’s nuclear weapons programme

Seoul is moving away from demanding Pyongyang fully give up nuclear weapons before any settlement

The Independent UK

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The Economic Times

South Korea’s Kospi jumps 4% after 31% crash from June peak. What’s ahead?

South Korea's Kospi index saw a significant jump, recovering some losses after a sharp decline. Shares of chipmakers like Samsung Electronics and SK Hynix drove this recent market recovery. However, the index remains in a bear market, reflecting investor caution and wild swings. Authorities have intervened to cool speculative fever…

The Economic Times

Is Korean stock market turning into open casino? How retail leverage is fueling wild swings

Memory chip bellwethers SK Hynix and Samsung Electronics make up just over half of the benchmark Kospi. Much of the stock market’s previous rally was related to the sharp surge in the share prices of these two chipmakers. These two stocks have now crashed more than 30% each in just…

The Economic Times

How a dispute over ecommerce firm Coupang is testing US-South Korea ties

South Korea's decision to fine e-commerce firm Coupang over a data leak has drawn criticism from Washington and raised questions about the country's openness to American tech, raising worries the matter is impacting Seoul's relations with the U.S.

The Economic Times

How a dispute over ecommerce firm Coupang is testing US-South Korea ties

South Korea's fine on ecommerce firm Coupang has drawn significant US criticism. This dispute raises concerns about Seoul's openness to American technology companies. The issue is impacting broader bilateral relations and security negotiations between the two nations. South Korean officials maintain the fine was for a data leak, not discrimination.…

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The Economic Times

Explained: Why SK Hynix ADR premiums soared 50% over South Korean shares and how this reminds market of dotcom bubble

SK Hynix’s ADRs are trading at a more than 50% premium to their South Korea-listed shares just days after their Nasdaq debut, raising comparisons with TSMC’s dot-com-era valuation gap. Analysts attribute the divergence to restricted arbitrage, strong AI-driven demand, and easier access for global investors through US markets.

The Economic Times

South Korea's Kospi crashes 5% again, plunges 31% in one month. Is the AI frenzy over?

South Korea's Kospi plunged 5% on Tuesday, extending its two-day decline to nearly 14% and taking the index into bear market territory. The benchmark has fallen over 31% from its June peak after a tech-led rally, though it remains up more than 50% for 2026 overall.

The Economic Times

South Korea's AI tax windfall a 'golden window' for investment: Lee

South Korea will use a tax revenue windfall from artificial intelligence chipmakers as a strategic source of investment, President Lee Jae Myung said Monday, describing a "golden window" of opportunity. "These revenues are a valuable national resource that should be invested during the golden window when the global race for…

The Economic Times

North Korea condemns NATO summit, says denuclearisation should start with US allies

North Korea condemned the US and its allies for strengthening military blocs. Pyongyang accused NATO leaders of portraying its sovereign rights as a threat. The alliance demonstrated stronger commitment to bloc-to-bloc confrontation and increased arms spending. South Korea's President Lee Jae Myung hoped for expanded cooperation with NATO allies. North…

The Economic Times

South Korea's Lee urges speed in launching mega chip projects

"In this ⁠situation, it ⁠appears the outcome will be decided by who moves faster and who secures the lead first," Lee told a government meeting. "Only speed matters."

The Economic Times

South Korea plans future fund backed by semiconductor tax windfall

South Korea is establishing a "Future Response Fund" from semiconductor boom tax revenues. This fund will fuel major national projects, boost growth engines, and support younger generations. The initiative aims to tackle economic polarization and solidify the nation's global standing. President Lee Jae-myung's administration envisions this as a cornerstone for…

International Business Times UK

Hong Myung-bo Quits as South Korea Coach After President Lee Jae Myung's 'Incompetent People' Remark

Hong Myung-bo resigned as South Korea coach after President Lee Jae Myung criticised football leadership following the team's 2026 World Cup exit

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