Hormuz Relief, Real-World Lag: Markets cheered the US-Iran ceasefire framework and hopes for Strait of Hormuz reopening, but shipping and energy operators warn it will take weeks to months for flows to normalize—meaning Korea’s export-heavy economy may feel relief unevenly. G7 Diplomacy: President Lee Jae-myung heads to the G7 in France as Middle East stability tops the agenda, with Seoul looking to widen its global role. KOSPI Momentum: Seoul shares extended gains for a fourth straight day, closing above 8,700 as foreign buying returned and oil prices slid. Airline Costs Ease: International flight fuel surcharges for July are set to drop more than 20% as jet-fuel benchmarks fall. Auto Labor Rights: Hyundai Motor and Hanwha Ocean face expanded employer responsibility for certain subcontracted workers under the “Yellow Envelope” law, raising the stakes for manufacturing labor talks. Minimum Wage Clash: Labor and business groups spar over 2027 minimum wage levels and industry-specific pay floors, with unions pushing a steep hike. AI Chip Race Watch: Nvidia-linked deals in Seoul underscore how Korea’s AI buildout is accelerating—alongside questions about costs and who captures value. Space & Defense Deals: Korea Aerospace Industries is teaming with Remondo on sovereign imaging for ISR satellites, while South Korea’s defense industry eyes more program momentum.