Ousted president convicted in election law case

A Seoul court handed ousted President Yoon Suk Yeol an 18-month suspended sentence for making false statements during his 2022 campaign, a verdict that could require his People Power Party to repay 39.7 billion won (roughly $29 million) in campaign funds to the election commission if upheld on appeal (via The Korea Herald). The court found Yoon guilty of lying about shaman meetings and introducing a lawyer to a tax official, ruling his false statements infringed voters' ability to make informed decisions.

Lee strengthens Korea's Latin America pivot. President Lee Jae-myung is touring Brazil, Chile, and Argentina to position South Korea as a key player in the Global South, emphasizing Latin America's 280 million-strong market and $3.7 trillion economy as essential to diversifying Korea's supply chains and expanding defense partnerships (via The Korea Herald). The trip targets rare earth metals, lithium, copper, and agricultural resources while modernizing existing trade deals with the region.

Nvidia is plowing $1 billion into Naver (카카오의 포털 자회사) to expand the internet company's AI datacenter from 55 megawatts to 200 megawatts by 2028, a deal signed at an AI Summit in San Francisco with President Lee Jae-myung in attendance (via The Korea Herald). The tie-up taps Brookfield's proposed $9 billion in infrastructure funding to deploy cutting-edge Vera Rubin and Blackwell systems serving enterprises and startups across the region.

Seoul and MIT launch joint AI talent program. The Seoul AI Foundation partnered with MIT's Senseable City Lab to create the "Seoul Global AI Lab," described as MIT's first international outpost in Asia, offering Korean university students seminars, summer courses, and internships in urban AI (via The Korea Times). Students from Seoul National University, KAIST, and Yonsei are analyzing municipal data and presenting findings to city officials at Smart Life Week in October.

Korea Tourism Organization targets Chinese travelers. The KTO and budget carrier Eastar Jet signed a partnership to expand direct international flights from regional airports, aiming to increase Eastar Jet's share of regional inbound visitors to 45 percent this year and 55 percent by 2028, with a focus on attracting tourists from Chinese cities including Datong, Nantong, and Ningbo (via The Korea Times).

The KOSPI opened 1.73 percent higher at 6,806 but closed down 1.10 percent at 6,617 on July 27 as foreign institutional investors offloaded shares and traders reduced exposure before earnings from Samsung Electronics and SK Hynix dominate the coming days (via Seoul Economic Daily). Samsung Electronics fell 0.70 percent to 247,750 won despite announcing a five-year AI chip partnership with Broadcom, while SK Hynix slipped 1.25 percent despite strengthening its Nvidia tie-up for high-bandwidth memory supply. The technology-focused KOSDAQ climbed 1.77 percent to 761.45 on strong biotech and AI-related buying, with Naver surging 7.71 percent on Nvidia's $1 billion share purchase announcement.

LG Electronics secured official Nvidia certification for its 600-kilowatt Coolant Distribution Unit after passing more than 100 technical evaluation criteria, becoming the first Korean company to achieve the validation (via PR Newswire). The unit achieves precision temperature control of ±0.25 degrees Celsius and integrates virtual sensor technology for real-time monitoring and leak detection to support reliable AI server operation. LG plans sequential certifications for larger models, including 1MW, 2.5MW, and 4MW cooling units, positioning itself as a provider of comprehensive thermal management solutions across multiple infrastructure scales.