Andong: President Lee Jae Myung highlighted the importance of cooperation with Japan during his bilateral summit with Japanese Prime Minister Sanae Takaichi. The meeting took place in Andong, where the two leaders focused on enhancing bilateral and regional cooperation to tackle global challenges.
According to Yonhap News Agency, the South Korean stock market experienced a downturn as foreign investors continued selling major tech stocks, following a tech slump on Wall Street. The Korea Composite Stock Price Index (KOSPI) fell by 244.38 points, closing at 7,271.66. Concurrently, the local currency weakened against the U.S. dollar.
Former Defense Minister Kim Yong-hyun received a three-year prison sentence from the Seoul Central District Court. Kim was convicted of deceiving the Presidential Security Service to issue a secure phone for civilian Noh Sang-won, just before former President Yoon Suk Yeol declared martial law.
In corporate news, Samsung Electronics Co. and its largest labor union resumed government-led wage mediation. The talks aim to prevent an 18-day strike, with discussions focusing on performance-based bonuses. The initial round of mediation ended without a resolution.
Additionally, the unification ministry addressed concerns regarding its newly published white paper, which faced criticism for allegedly violating the Constitution with "two-state" language. A ministry official clarified that the language does not imply recognizing North Korea as a legal state, but rather acknowledges its political entity and statehood.