Samsung Electronics will unveil its second-half flagship smartphones at the Galaxy Unpacked 2026 event on July 22 at 10 PM KST in London, while the European Central Bank (ECB) will decide the Eurozone's benchmark interest rate on July 23 at 9:15 PM KST, and the Trump administration's legal deadline for imposing a 10% global tariff expires on July 24 (local time). The ECB raised its deposit rate to 2.25% and refinancing rate to 2.4% on June 11 (local time) to prevent energy price surges from the US-Iran war from expanding inflation. The fourth week of July brings multiple economic events amid global uncertainty driven by Trump administration tariff policies and escalating Middle East tensions following renewed US-Iran military conflict.
Samsung Unveils Galaxy Z Fold8 and Z Flip8 in London
Samsung Electronics will hold Galaxy Unpacked 2026 at Old Billingsgate in London on July 22 at 10 PM KST to unveil its second-half flagship smartphones Galaxy Z Fold8 series and Galaxy Z Flip8. The invitation distributed on July 8 stated that a new lineup from Galaxy, which has defined the foldable category, will be revealed, raising expectations for innovations to be showcased at the event.
ECB Decides Eurozone Interest Rate After June Hike
The European Central Bank will hold a monetary policy meeting on July 23 at 9:15 PM KST to decide the Eurozone's benchmark interest rate. The ECB raised its deposit rate to 2.25% and refinancing rate to 2.4% at the monetary policy meeting held on June 11 (local time). This move was interpreted as a measure to prevent energy price spikes from the US-Iran war from leading to expanded inflation. Attention is focused on what decision the ECB will make this time as tensions in the Middle East have escalated with the US and Iran, which were conducting ceasefire negotiations, exchanging military force again.
Trump Administration Global Tariff Deadline Expires July 24
July 24 (local time) marks the expiration of the legal deadline for the Trump second-term administration's 10% global tariff imposition. Observations suggest new tariffs of up to 12.5% may be imposed on Korean products. The US Trade Representative (USTR) received submissions from trading partners until July 6 regarding forced labor-related tariffs based on Section 301 of the Trade Act. The view is that procedures to impose 10-12.5% tariffs on 60 economies including Korea are nearing completion.
The Korean government and the Korea International Trade Association reportedly requested in their submission that "the additional 12.5% tariff on Korean products lacks grounds and should be reconsidered," asking that if tariffs are unavoidable, they be lowered to 10%. The Trump administration has imposed a so-called "global tariff" of 10% on global trading partners based on Section 122 of the Trade Act since the Supreme Court ruled reciprocal tariffs illegal in February, but the period for imposing global tariffs (150 days) approaches on July 24. Accordingly, the administration has been rushing to introduce alternative tariffs under Section 301 of the Trade Act before that date.
Japan Stock Market Closes for Marine Day Holiday
The Japanese stock market will close for one day on Monday, July 20, in observance of Marine Day. Japan, a maritime nation, designated Marine Day as a national holiday to express gratitude for the blessings of the sea and pray for the nation's prosperity.
Korean Companies Release Q2 Earnings July 22-24
Major listed Korean companies are scheduled to disclose second-quarter and first-half business results during the fourth week of July. On Wednesday, July 22, LG Display (11 AM) and OCI (3:30 PM) will announce results. On Thursday, July 23, Shinhan Financial Group (2 PM), Doosan Bobcat and OCI Holdings (3:30 PM), and KB Financial (4 PM) will release earnings. On Friday, July 24, Hyundai Mobis (10:10 AM), Hyundai Steel (2 PM), Hyundai Rotem (2:10 PM), and Samsung Heavy Industries (4 PM) will present their second-quarter and first-half business performance.
Other Economic Events Scheduled for July Fourth Week
On Tuesday, July 21, US private employment information firm ADP (Automatic Data Processing) will release weekly employment change data at 9:15 PM KST. The data is based on payroll information for approximately 25 million people held by ADP and is calculated as a four-week moving average centered on ADP's designated reference week, serving as a short-term trend indicator for private employment.
On Wednesday, July 22, Korean Foreign Minister Cho Hyun will depart for Manila, Philippines, to attend the ASEAN (Association of Southeast Asian Nations) Foreign Ministers' Meeting (July 22-23). Minister Cho will co-chair the 29th Korea-ASEAN Foreign Ministers' Meeting with Thailand on July 22 and hold talks with foreign ministers from key countries including the Philippines, which will be ASEAN chair in 2026. On the following day, he will consecutively attend the 27th ASEAN+3 Foreign Ministers' Meeting, the 33rd ASEAN Regional Forum (ARF) Foreign Ministers' Meeting, and the 16th East Asia Summit (EAS) Foreign Ministers' Meeting. On the same day, he will also co-chair the 14th Korea-Mekong Foreign Ministers' Meeting with Thailand.
On the evening of July 22 at 8 PM KST, the US Mortgage Bankers Association (MBA) will release weekly mortgage application data. This economic indicator measures changes in the number of new mortgage applications guaranteed by the MBA during the relevant week and is used to understand trends and activity in the local housing market.
On Friday, July 24 at 11 PM KST, the US Department of Commerce will release June new home sales data. New home sales serve as a leading indicator of the local housing market and are recognized as one of the important indicators. An increase in new home sales can be judged as a signal of economic recovery, while a decrease can be interpreted as a signal of economic slowdown.
FAQ
What will Samsung Electronics unveil at Galaxy Unpacked 2026 on July 22?
Samsung Electronics will unveil its second-half flagship smartphones Galaxy Z Fold8 series and Galaxy Z Flip8 at the Galaxy Unpacked 2026 event held at Old Billingsgate in London on July 22 at 10 PM KST. The invitation distributed on July 8 stated that a new lineup from Galaxy, which has defined the foldable category, will be revealed.
When does the Trump administration's global tariff legal deadline expire?
The Trump administration's legal deadline for imposing a 10% global tariff expires on July 24 (local time). The period for imposing global tariffs under Section 122 of the Trade Act (150 days) approaches on that date, and the administration has been rushing to introduce alternative tariffs under Section 301 of the Trade Act before the deadline.
Why did the ECB raise interest rates on June 11?
The European Central Bank raised its deposit rate to 2.25% and refinancing rate to 2.4% at the monetary policy meeting held on June 11 (local time). This move was interpreted as a measure to prevent energy price spikes from the US-Iran war from leading to expanded inflation.
