Korean Morning Headlines — 2026-07-13
Here is your morning briefing with the latest top news across politics, society, and the economy in Korea.
Korean Morning Headlines — 2026-07-13
Politics
President leads National Fiscal Strategy Meeting President Lee Jae-myung is chairing the '2026 National Fiscal Strategy Meeting' at the Blue House today, with all eyes on the blueprint for a future response fund. Ryu Deok-hyun, the Blue House Secretary for Fiscal Planning, mentioned in a YouTube broadcast on the 7th that the government plans to pursue the fund through special legislation.
National Assembly committees in session The National Assembly is reviewing various bills today across committees, including the Legislation and Judiciary Committee and the National Policy Committee. As policies are being drafted with bipartisan cooperation, committees like the National Policy Committee and the National Defense Committee have appointed secretaries and resumed their operations.
Economy
BOK expected to raise base interest rate It is highly likely that the Bank of Korea's Monetary Policy Committee will raise the base interest rate by 0.25 percentage points, from the current 2.50% to 2.75%, on the 16th. Market experts see this first rate hike in 3 years and 6 months as a certainty and are now focusing on the schedule for potential further increases after July.
Signals of monetary tightening Signals of monetary tightening are becoming concrete following Bank of Korea Governor Shin Hyun-song’s hints regarding a rate hike. Experts suggest the possibility of additional hikes in August or October following a July increase, with a strategy for economic growth in the second half of the year also set to be released.
Semiconductor boom brightens economic growth outlook Economic growth is expected to improve as the semiconductor industry thrives, fueled by developments such as the NASDAQ listing of SK hynix. Despite the KRW/USD exchange rate remaining high at around 1,500 won, growth in the semiconductor sector is expected to provide a boost to the entire economy.
Society
Employment insurance subscribers rise for 6th straight month The number of employment insurance subscribers has seen an increase in the 200,000-range for six consecutive months. However, the gains were concentrated in service sectors like health/welfare and accommodation/food services, while the manufacturing sector recorded a decline for the 13th consecutive month.
Youth job losses persist Employment insurance subscribers aged 29 and under have decreased for 46 consecutive months, indicating worsening youth employment conditions. As the dual structure of the labor market across industries and age groups deepens, calls for policy responses are growing.
All information was collected from official news outlets. Please check the source links for full details on each item.
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