Special Prosecutors Indict Kim Tae-hyo for Justifying Martial Law; Yoon and Shin to be Charged Former National Security Office First Deputy Director Kim Tae-hyo has been indicted while in custody for allegedly justifying the declaration of martial law to allied nations, including the United States, shortly after it was announced on December 3, 2024. The special prosecutors' office plans to charge former President Yoon Suk Yeol and former National Security Office Director Shin Won-sik in the future.On July 29, the second comprehensive special investigation team, led by Special Prosecutor K July 30, 2026

Microsoft Reports 18% Revenue Growth, Azure Sees 43% Increase Amid AI Investments Microsoft (MS) has exceeded market expectations with strong earnings driven by growth in its cloud business. The company significantly increased its investments in artificial intelligence (AI) infrastructure, and the rapid growth of its core cloud service, Azure, has raised hopes that these large-scale AI investments are translating into actual revenue growth.On July 29, Microsoft announced that its revenue for the fourth quarter of fiscal year 2026 (April to June) rose 18% year-over-year to $90 July 30, 2026

Mother of Trot Singer Jang Yoon-jung Charged with Investment Fraud The mother of trot singer Jang Yoon-jung has been indicted while in custody on charges of fraud.On July 29, Yonhap News and the Seoul Eastern District Prosecutors' Office announced that Jang's mother, identified as Yook, has been charged with defrauding acquaintances of millions of won under the pretense of investment.Yook is accused of receiving several million won from a friend as an investment but failing to return any profits.Previously, police received a complaint from the victim and tracke July 30, 2026

Meta Reports 28% Revenue Growth but Profits Fall Short Amid AI Investments Meta, the parent company of Facebook and Instagram, reported second-quarter revenue growth but fell short of market expectations for profits and third-quarter forecasts. The company's significant investments in artificial intelligence (AI) infrastructure have led to a more than 90% decline in usable free cash flow.On July 29, Meta announced that its second-quarter revenue reached $60.8 billion, a 28% increase from the same period last year, surpassing market expectations of $60.17 billion.Howeve July 30, 2026

Gijang County Launches Task Force to Combat Corruption and Waste Gijang County in Busan has launched a dedicated organization to prevent corruption and budget waste, and is conducting joint inspections of coastal blind spots with the county council to enhance transparent and accountable governance.The initiative aims to ensure fairness in administrative procedures while increasing effectiveness through on-site communication.On July 29, Gijang County officially launched the 'Task Force for Comprehensive Investigation of Corruption and Wasteful Projects' to enh July 30, 2026

U.S. Stocks Plunge Despite Fed's Rate Hold; Dow Falls 2.19% U.S. stock indices fell sharply on July 29, 2026, as the Federal Reserve held interest rates steady, but concerns about potential rate hikes lingered due to dissent among some committee members. Investor sentiment was further dampened by rising oil prices and long-term Treasury yields amid escalating tensions in the Middle East.The Dow Jones Industrial Average closed down 2.19% at 51,594.14. The S&P 500 dropped 1.52% to 7,316.15, while the tech-heavy Nasdaq Composite fell 1.74% to 24,442.94. July 30, 2026

Black Wednesday Hits Markets Despite SK Hynix Record Earnings Black Wednesday Hits Markets Despite SK Hynix Record Earnings On July 29, the Korea Exchange reported that the KOSPI closed at 5,663.24, down 360.42 points (5.98%) from the previous trading day. The KOSDAQ started at 713.71, up 7.86 points (1.11%), but quickly turned downward, finishing at 662.68. The sharp decline triggered the 15th first-stage circuit breaker in history and the ninth this year for the KOSPI. The KOSDAQ also activated its 14th first-stage circuit breaker, marking the first time July 30, 2026

Importance of Direction Over Speed in Korea-China FTA Phase 2 Negotiations In January, following President Lee Jae-myung's visit to China, the Korea-China Free Trade Agreement (FTA) Phase 2 negotiations were officially reactivated under an agreement between the two leaders to achieve "meaningful progress within the year." The 13th round of service and investment follow-up negotiations began in Beijing in January, followed by the 14th round in Seoul in April and the 15th round in Beijing in June, with negotiations continuing on a bimonthly basis.The Korea-China FTA, w July 30, 2026

Trump Warns of Strong Retaliation After Iran Missile Attack President Donald Trump has warned of a strong retaliation following Iran's missile attack on a U.S. military base in Jordan.On July 29, local time, Trump referenced the Iranian attack, stating, "Now it's our turn," and promised to strike them "very hard."In a phone interview with Fox News, Trump used strong language, saying, "We will hit them hard. They will be hit."Earlier, the Iranian Revolutionary Guard Corps (IRGC) announced that it had launched ballistic missiles targeting the Muwaffaq Salt July 30, 2026

Israeli Army Chief Warns of Deeper Incursion into Lebanon if Necessary Israeli Army Chief of Staff Eyal Zamir has warned that military operations in Lebanon could expand further.On July 29, local time, Zamir visited the southern operational area in Lebanon and stated, "If necessary, we will advance deeper and reach other areas."Zamir emphasized, "The military operations ongoing on various fronts are not over yet," adding that plans are being prepared to respond to any changes in the situation.This statement comes amid rising tensions between the Israeli military an July 30, 2026