Yonhap News Summary

South Korea plans to launch a Future Fund to leverage windfall revenue from increased tax collection due to the recent AI boom, according to the budget ministry. This move aims to promote long-term economic growth, as the AI industry has sparked a major transition across various sectors.

South Korea and the United States are set to conclude their key military exercise, Ulchi Freedom Shield, nearly a week earlier than originally scheduled. U.S. President Donald Trump ordered a significant reduction in the drills, citing an inappropriate and hostile message to North Korea and the cost burden.

Kakao Corp. announced plans to split its major businesses into two entities, KakaoAI and KakaoX, in order to strengthen its artificial intelligence capabilities. The company's board approved the plan during a meeting.

South Korean exports increased by 56 percent in the first 20 days of August, with semiconductor shipments reaching a record high. Outbound shipments totaled $55.2 billion during this period, the highest level for any August.

Hyundai Motor workers staged a full-scale, eight-hour strike over wage disputes, marking the first time in 10 years that the automaker's union has gone on strike.