Yonhap News

The Seoul Central District Court sentenced former South Korean President Yoon Suk-yeol to 30 years in prison on June 12 for charges linked to a drone operation intended as pretext for the December 2024 martial law declaration. Yoon had previously received a life sentence in February for leading an insurrection through the martial law order and has appealed the latest conviction. Additional prison terms were imposed on former defense officials in related proceedings.

Bank of Korea Governor Shin Hyun-song stated on June 12 that monetary policy trade-offs are not significant and that interest rates should be raised without delay to prioritize price stability. South Korea recorded 3.1 percent consumer inflation in May, above the bank's 2 percent target, alongside 1.8 percent first-quarter GDP growth. The next policy meeting is scheduled for July 16.

US strikes on Iran followed reports of a downed US helicopter near the Strait of Hormuz, with Iran conducting retaliatory actions on targets in Kuwait, Bahrain, and Jordan. Asian indices including the Nikkei and KOSPI recorded notable declines on June 10, while US markets showed mixed closes and Brent crude prices eased. Semiconductor shares and select commodities also moved lower.

A South Korean-operated LNG carrier with eight Korean crew members completed transit of the Strait of Hormuz on or before June 11, marking the second such passage by a vessel under Korean operation. The number of stranded South Korean vessels fell from 25 to 24 and affected sailors from 147 to 139, according to Yonhap News. South Korea's foreign ministry maintained communications with Iranian authorities regarding navigation in the strait.

South Korea's Personal Information Protection Commission imposed a 624.68 billion won fine on Coupang, equivalent to approximately US$408-410 million, for a data breach affecting 37-37.5 million users and unauthorized collection of activity records from 11.17 million users. The penalty exceeds the prior record of 134.8 billion won against SK Telecom. Coupang, a US-incorporated company, has stated it will contest the findings through legal procedures.

Yonhap News reported that the KOSPI opened 499.9 points higher at 8,263.85 on June 12, a 6.44 percent gain. U.S. President Donald Trump stated that a settlement with Iran had been reached and that planned strikes were canceled, though Iran has not confirmed any agreement. Separate data showed U.S. producer prices posting their largest annual increase in three years during May.