Ministerial Vacancy at Small and Medium Enterprises Ministry Delays Policies Since Han Seong-sook transitioned to the role of Prime Minister, the appointment of a new Minister for the Ministry of SMEs and Startups has been delayed for over a month, raising concerns about a policy gap. With small and medium enterprises (SMEs) and small business owners struggling amid high inflation and sluggish domestic demand, the absence of a policy leader is hindering initiatives like the normalization of the Everyone's Startup program and appointments within affiliated agencies.Accord July 25, 2026

Wang Yi Calls for Negotiations as China and Iran Urge U.S. to Honor MOU Wang Yi, head of the Chinese Communist Party's Central Foreign Affairs Commission and Foreign Minister, met with Iranian Foreign Minister Abbas Araghchi to reiterate calls for the implementation of the U.S.-Iran ceasefire memorandum of understanding (MOU) and for renewed negotiations.According to Yonhap News on July 25, Wang met with Araghchi during the Shanghai Cooperation Organization (SCO) Foreign Ministers' meeting held in Kyrgyzstan the previous day. Wang expressed deep concern over the rec July 25, 2026

Education Ministry's RISE Program Faces Transparency Criticism Despite 21.4 Trillion Won Budget The Education Ministry's RISE (Regional Innovation System for Education) program, which transfers financial support authority to local governments, has seen its budget soar to 21.4 trillion won this year. However, concerns have been raised about the lack of transparency regarding how these funds are utilized and the outcomes of the support provided. Despite the significant taxpayer investment, the program's operations have been criticized for their opacity, making it difficult to verify allegati July 25, 2026

Titleist's GTS300 Mini Driver Gains Attention A new club that combines the distance of a driver with the versatility of a fairway wood has been introduced. Titleist has launched the 'GTS300 Mini Driver,' which joins the GTS metalwood family.This new product is based on the GT280 Mini Driver, which received positive feedback from tour players when it was first introduced through the GT series. Notably, feedback from players actively competing on tour was a key factor in its design.Top players on the PGA Tour, including Justin Thomas and Came July 25, 2026

U.S. Eases Sunscreen Ingredient Regulations, Boosting K-Beauty Exports The U.S. sunscreen market is set to open up after two decades of strict regulations. The Food and Drug Administration (FDA) has announced a relaxation of its long-standing rules on sunscreen ingredients, which is expected to benefit the North American expansion of the K-beauty sector, particularly in sun care products. According to industry sources, the FDA recently granted final approval for the ingredient 'Bemotrizinol' as an active component in over-the-counter (OTC) sunscreens, with the new July 25, 2026

Department Stores Evolve into Cultural Spaces with Art Exhibitions Department stores are increasingly resembling art galleries. Spaces once dominated by cosmetics and luxury goods are now showcasing paintings and crafts, while rooftop gardens and store corridors have transformed into exhibition areas. Customers can spend time in department stores without making a purchase, enjoying art, scents, and photo opportunities. As online shopping becomes the norm, physical stores are competing not just on what they sell, but on what experiences they offer. According to July 25, 2026

Kim Hye-kyung: Hanji Should Connect Hearts Across Time and Borders Kim Hye-kyung attended a Hanji exhibition in San Francisco on July 24, stating, "I hope Hanji becomes a beautiful cultural heritage that connects more people's hearts across time and borders."Accompanying President Lee Jae-myung on his visit to the United States, Kim participated in the 'Connecting Time and Future with Hanji' exhibition at The Pearl, a cultural space in San Francisco. The event showcased the history, cultural value, and potential for modern artistic expression of traditional Kor July 25, 2026

South Korea's Oil Imports Drop 15%, Costs Surge 21% Amid Red Sea Tensions South Korea's oil imports have decreased over the past four months since the outbreak of war in the Middle East, while the amount paid for these imports has surged by more than 20%. With rising tensions in the Red Sea, concerns are growing that oil prices and logistics costs will increase further.According to Yonhap News on July 25, South Korea's oil import value (based on MTI 1310) from March to June reached $30.23 billion, a 21.1% increase from $24.97 billion during the same period last year. July 25, 2026

South Korean President Lee Meets with Big Tech CEOs to Discuss AI Investments South Korean President Lee Jae-myung met with Sam Altman, CEO of OpenAI, Jensen Huang, CEO of NVIDIA, and Hock Tan, CEO of Broadcom, in San Francisco on July 24, local time, to discuss expanding investments and collaborations for building Korea's artificial intelligence (AI) ecosystem and the "Three Major Megaprojects" for national advancement.During the meeting, Huang announced that the business partnership between NVIDIA and SK Group could reach $500 billion. He also outlined extensive plans f July 25, 2026

President Yoon Aims for South Korea to Become a Global AI Hub President Yoon Suk Yeol announced on July 24 that South Korea aims to become a global hub for artificial intelligence (AI) production and an indispensable platform for global cooperation in technology, capital, talent, and ideas.Starting at the end of this year, the 'Everyone's AI' project will be launched, involving all 50 million citizens to integrate AI into public services, welfare, education, and daily life, positioning South Korea as the most dynamic AI market and a global testbed.Presiden July 25, 2026