[Minute to Read] S. Korea holds NSC meeting after U.S. strikes on Iran

The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: June 22.

National Security Adviser Wi Sung-lac /News1

S. Korea holds NSC meeting after U.S. strikes on Iran

South Korea’s presidential office held an urgent National Security Council meeting on June 22 to address the impact of recent U.S. attacks on Iranian nuclear facilities. Chaired by National Security Adviser Wi Sung-lac, the meeting focused on safeguarding the Korean Peninsula’s security and economy amid rising Middle East tensions. Officials emphasized protecting South Korean citizens and maintaining stability while pledging close monitoring and further talks. The U.S. struck key Iranian sites, including Fordow, Natanz, and Isfahan, with U.S. President Trump calling the operation a “very successful attack.”

KOSPI rally adds 25 firms to 1 trillion won market cap club

As the benchmark KOSPI surpassed 3,000 points on June 20 for the first time in over three years, 25 more companies crossed the 1 trillion won market capitalization mark this year, raising the total to 225. Financial and tourism stocks led the gains, with Hanwha Investment & Securities and Daishin Securities joining the group. Meanwhile, struggling sectors like petrochemicals and batteries saw several firms fall below the threshold. Analysts warn of a possible market pause and recommend selective investment amid ongoing government reforms.

AWS picks Ulsan for AI data center after SK’s strategic push

Amazon Web Services originally considered Australia for its next AI data center, but SK Group successfully persuaded the tech giant to choose Ulsan instead. Key to the pitch were Ulsan’s wealth of manufacturing data from firms like Hyundai Motor and Samsung SDI, a stable power supply via SK Chemicals’ LNG plant, and access to high-performance AI chips from SK Hynix. AWS will invest $4 billion, nearly 80% of the 7 trillion won project. The case highlights the success of private-sector-led initiatives, in contrast to stalled government-led AI projects.

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