South Korea and Chile Revive FTA Talks, Strengthen Mineral Supply Chain Cooperation South Korea and Chile have agreed to reactivate the Free Trade Agreement (FTA) committee, addressing implementation and improvement issues for the first time in a decade. The critical mineral supply chain discussions will be elevated to a ministerial level, with a new working-level channel established.The government aims to enhance the stability of mineral supply from Chile, valued at $2.1 billion (approximately 3 trillion won) annually, while providing a framework to support local companies' en July 31, 2026

Mongolia's Former Prime Minister Advocates for Strategic Partnership with South Korea "South Korea is not just a capital supplier but a long-term industrial and technological partner with engineering, quality control, and environmental technology. We must enhance the entire value chain of the mining and tourism sectors based on our strategic partnership," said Khurelsukh Gombosuren, a leading candidate for the next president of Mongolia, in an interview on July 22 in Ulaanbaatar.Gombosuren emphasized the need for an 'industrial structure transformation' that moves away from a rel July 31, 2026

Hong Myung-bo Denies Team Discord Over Interview Boycott, Explains Tactical Decisions Hong Myung-bo, the head coach of the South Korean national soccer team, stated that there was no internal conflict within the team regarding the alleged interview boycott that arose during the 2026 FIFA World Cup in North and Central America.On July 30, Hong appeared as a witness at a hearing held by the National Assembly's Culture, Sports and Tourism Committee, where he denied allegations surrounding media interactions and player selections during the tournament.Previously, during a training se July 31, 2026

Hong Myung-bo Calls on Young Footballers to Drive Change in KFA Hong Myung-bo, the former head coach of the South Korean national football team, urged young footballers who have criticized the Korea Football Association (KFA) through platforms like YouTube to take action and drive change from within.On July 30, Hong appeared as a witness at a hearing held by the National Assembly's Culture, Sports and Tourism Committee regarding issues related to the KFA. The hearing lasted approximately 12 hours and included questions from lawmakers about the cartel and org July 31, 2026

Korean Companies Expand in Mongolia's Mining and Tourism Sectors As Mongolia rises as an alternative source for strategic minerals, competition among global resource development companies for local mining exploration and development intensifies. The infrastructure built for mineral transport has lowered barriers to accessing tourist sites, solidifying a national virtuous cycle of growth in both the mining and tourism sectors.Mongolia's mining industry has a history spanning over a century, with foreign companies mining gold and entering profit-sharing agreeme July 31, 2026

Jung Mong-kyu Faces Controversy Over Text Messages During National Assembly Hearing Jung Mong-kyu, former president of the Korea Football Association, is facing scrutiny after text messages exchanged with a ruling party lawmaker were revealed during a National Assembly hearing. The 'Jung Sunbae' mentioned in the messages has been identified as Jeong Jin-seok, a former chief of staff to the president.On July 30, during a hearing held by the National Assembly's Culture, Sports and Tourism Committee to examine issues surrounding the Korea Football Association, a screen displaying July 30, 2026

SK Group Chairman Chey Tae-won Makes First Purchase of SK Hynix Shares Chey Tae-won Strengthens Responsibility Management with SK Hynix Stock PurchaseChey Tae-won, chairman of SK Group, has made his first direct purchase of SK Hynix shares, signaling a commitment to responsible management. This move comes amid increased market volatility in the semiconductor sector, reflecting a strong intent to restore corporate value.On July 30, SK Hynix announced that Chey acquired 3,620 common shares through on-market transactions. The total purchase amount, based on the closin July 30, 2026

Iran's Revolutionary Guard Promises Retaliation After US Airstrikes Resume The Islamic Revolutionary Guard Corps (IRGC) of Iran has issued a warning of immediate retaliation following the resumption of U.S. airstrikes against Iran, which had been paused for over ten days. This escalation marks a significant cooling of tensions in the Middle East.On July 30, local time, the IRGC released an official statement declaring its intention to target U.S. facilities in the region in response to the renewed airstrikes.The IRGC stated, "Punishment for the provocateurs will occur July 30, 2026

U.S. GDP Growth Slows to 1.5% in Second Quarter as Government Spending Declines The U.S. economy's growth rate for the second quarter of this year has significantly slowed, falling short of market expectations.The U.S. Department of Commerce announced on July 30 that the preliminary gross domestic product (GDP) growth rate for the second quarter was recorded at an annualized 1.5% compared to the previous quarter.This figure represents a decline of 0.6 percentage points from the first quarter's growth rate of 2.1% and is below the Dow Jones estimate of 1.8% from market exper July 30, 2026

UK Holds Interest Rate Steady at 3.75% Amid Inflation and Geopolitical Risks The Bank of England has decided to keep its interest rate at the current level. This decision is seen as a response to the slowing inflation and geopolitical risks stemming from the Middle East.The Monetary Policy Committee (MPC) of the Bank of England announced on July 30 that it has frozen the interest rate at 3.75%. Of the nine members, six voted in favor of maintaining the rate, while three expressed differing opinions.This marks the fifth consecutive decision to hold rates steady since Dece July 30, 2026