Seoul

South Korean stocks surged more than 5 percent Wednesday, on a semiconductor rally boosted by the ongoing U.S. chip giant Nvidia’s global artificial intelligence (AI) conference. The Korean won strengthened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) closed up 284.55 points, or 5.04 percent, to 5,925.03.

The index came under strong buying pressure from foreigners and institutional investors, triggering the Korea Exchange (KRX), the country’s main bourse operator, to issue a buy-side sidecar near the closing bell.

Program trading for the KOSPI was suspended for five minutes at 2:34 p.m., according to the KRX.

Offshore and institutional investors snapped up a combined net 4 trillion won (US$2.7 billion) worth of equities. Retail investors, on the other hand, offloaded 3.9 trillion won.

Trade volume was heavy at 1.1 billion shares worth 26.1 trillion won, with winners far outnumbering losers 614 to 278.

Investors’ appetite for semiconductors increased, following remarks from Nvidia’s Chief Executive Officer (CEO) Jensen Huang on Samsung Electronics, Lee Kyoung-min, an analyst at Daishin Securities, said.

During the ongoing four-day event in California, Huang said on Monday he wants to “thank Samsung, who manufactures the Groq LP30 chip” for the company, adding that the chips are in production and would be shipped in the second half of this year.

“The stock market’s sensitivity to geopolitical issues in the Middle East is markedly declining,” Lee added.

Most large cap shares ended bullish.

Top-cap Samsung Electronics jumped 7.53 percent to 208,500 won, while its chipmaking rival SK hynix climbed 8.87 percent to 1,056,000 won.

Nuclear power plant builder Doosan Enerbility rose 2.78 percent to 107,300 won, on anticipations alternative energy sources would benefit from the recent spike in oil prices.

Brent crude, the international oil benchmark, has remained at the US$100 per barrel level for the past five sessions.

In contrast, defense shares lost ground as investors went to lock in profits. Hanwha Aerospace inched down 0.43 percent to 1,390,000 won, and LIG Nex1 retreated 2.27 percent to 689,000 won.

The Korean won was quoted at 1,483.1 won against the U.S. dollar as of 3:30 p.m., up 10.5 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 6.3 basis points to 3.261 percent, and the return on the benchmark five-year government bonds retreated 6.7 basis points to 3.511 percent.

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March 13 (Asia Today) — Several candidates from South Korea’s conservative People Power Party publicly urged Seoul Mayor Oh Se-hoon on Friday to apply for the party’s nomination for the upcoming local elections, as his refusal to do so has prolonged internal tensions.

Oh has delayed submitting his candidacy application while calling for broader party reforms, prompting criticism from party members who say the standoff is deepening divisions ahead of the June 3 local elections.

Incheon Mayor Yoo Jeong-bok, who has secured the party’s nomination for his reelection bid, visited the party’s headquarters in Seoul and called on Oh to move forward with the nomination process.

“The party is in confusion,” Yoo said. “I hope Mayor Oh will quickly apply for the nomination and confidently join the party’s path forward.”

Yoo also urged former nomination committee chairman Lee Jung-hyun – who abruptly resigned earlier in the day – to reconsider his decision and return to the role.

“I ask Chairman Lee to withdraw his resignation and fulfill his responsibility to ensure a successful nomination process,” Yoo said, while also calling on party leader Jang Dong-hyuk to strengthen unity within the party.

South Chungcheong Province Gov. Kim Tae-heum also called on Oh to demonstrate leadership as a senior party figure.

“I understand Mayor Oh’s position,” Kim said. “But as a senior member of the party, I hope he will show dedication to keeping the party united.”

Kim had previously delayed submitting his own nomination application alongside Oh but completed the process Thursday after discussions with party leadership.

Some party figures have issued sharper criticism.

Lee Sang-kyu, a People Power Party candidate for Seoul mayor, accused Oh of creating unnecessary pressure within the party while insisting on the creation of an “innovation campaign committee.”

Another mayoral hopeful, Yoon Hee-sook, wrote on social media that it is not the time for internal disputes over candidate registration.

“Primary candidates must unite and focus on confronting the Lee Jae-myung administration while working toward party reform,” she said.

Criticism has also emerged within the party leadership over Oh’s proposal to launch a reform-oriented campaign committee.

Park Jun-tae, chief of staff to the party leader, questioned whether the proposal effectively amounted to a demand for Jang to step down.

“If the proposal implies that the party leader should resign, it would be difficult for the party to accept,” Park said.

Senior lawmaker Na Kyung-won also criticized Oh’s position in a social media post Thursday, urging him to stop escalating tensions within the party.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260313010004055

South Korean stocks sharply rebounded on Thursday from the previous session’s sharpest decline ever, soaring almost 10 percent, amid signs of an easing oil price surge sparked by the ongoing Iran conflict. The local currency rose against the U.S. dollar.

The Korea Composite Stock Price Index (KOSPI) added 490.36 points, or 9.63 percent, to close at 5,583.9, snapping the three-session losing streak.

It marked the largest daily gain in terms of points in KOSPI history, renewing the previous record of 338.41 points set on Feb. 3.

Also, the 9.63 percent rise is the second steepest since Oct. 30, 2008, when the index rose 11.95 percent in the midst of the global financial crisis.

The country’s main bourse operator, the Korea Exchange (KRX), issued a buy-side sidecar around opening, suspending the selling of KOSPI futures for five minutes.

Trade volume was heavy at 1.6 billion shares worth 44.8 trillion won (US$30.5 billion), with gainers sharply beating decliners 898 to 21.

Individual investors drove the steep rally, scooping up a net 1.79 trillion won, while foreigners and institutions sold a net 144.6 billion won and 1.7 trillion won, respectively.

“The KOSPI experienced the sharpest decline in history and dropped near the 5,000-point line the previous day,” Roh Dong-gil, an analyst at Shinhan Securities, said. “Bargain hunters returned to the market to pull off a turnaround.”

Overnight on Wall Street, the Dow Jones Industrial Average rose 0.49 percent and the tech-heavy Nasdaq Composite climbed 1.29 percent on calmed oil price hikes.

In Seoul, market heavyweights led the rally.

Market bellwether Samsung Electronics surged 11.27 percent to 191,600 won, and chip giant SK hynix soared 10.84 percent to 941,000 won.

Top carmaker Hyundai Motor escalated 9.38 percent to 548,000 won, and its sister Kia jumped 6.19 percent to 166,400 won.

Defense shares were among the biggest winners as industry leader Hanwha Aerospace vaulted 4.38 percent to 1.38 million won and LIG Nex1 shot up 23.26 percent to 763,000 won.

Shinhan Financial Group rose 4.62 percent to 92,900 won, and internet giant Naver advanced 5.77 percent to 220,000 won.

Samsung Biologics, a leading pharmaceutical firm, mounted 8.64 percent to 1.65 million won, and entertainment giant CJ ENM increased 5.91 percent to 64,500 won.

The Korean won was quoted at 1,468.1 won against the U.S. dollar at 3:30 p.m., up 8.1 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 3.4 basis points to 3.189 percent, and the return on the benchmark five-year government bonds declined 3.5 basis points to 3.442 percent.

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South Korean stocks plunged more than 7 percent Tuesday to close below the 5,800-point mark as investor sentiment was dampened by escalating geopolitical concerns triggered by the ongoing Middle East conflict. The Korean won lost sharply against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 452.22 points, or 7.24 percent, to close at 5,791.91, marking the lowest closing price since Feb. 20, when the index finished at 5,808.53.

It marked the largest-ever daily drop.

The country’s main bourse operator, the Korea Exchange (KRX), issued a sell-side sidecar for 5 minutes around noon, suspending the selling of KOSPI futures.

Trade volume was heavy at 1.2 billion shares worth 52.5 trillion won (US$35.8 billion). Losers sharply outnumbered winners 840 to 73.

Foreign and institutional investors led the daily sell-off, dumping a net 5.1 trillion won and 891.1 billion won, respectively. Retail investors, on the other hand, went bargain hunting and snapped up a net 5.8 trillion won.

Coordinated U.S. and Israeli air strikes on Iran over the weekend roiled global markets from the start of this week, but the Korean market closed on Monday in observation of the March 1 Independence Movement Day holiday.

“The main index experienced expanded volatility as the Middle East risk was realized after a long weekend,” Roh Dong-gil, an analyst at Shinhan Securities, said. “The stock market is expected to be affected by oil prices and interest rates as the situation develops.”

Most shares closed bearish.

Market bellwether Samsung Electronics tumbled 9.88 percent to 195,100 won, and its chipmaking rival SK hynix plummeted 11.5 percent to 939,000 won.

Top automaker Hyundai Motor dived 11.72 percent to 595,000 won, and leading battery maker LG Energy Solution sank 7.96 percent to 393,000 won.

Travel shares were among the biggest losers as flag air carrier Korean Air nosedived 10.32 percent to 25,200 won and major travel agency Hana Tour Service lost 6.65 percent to 44,900 won.

KB Financial Group, a leading banking group, fell 3.46 percent to 153,500 won, and Celltrion, a major pharmaceutical firm, dropped 5.66 percent to 225,000 won.

However, oil refinery and defense shares were bullish.

Leading refinery firm SK Innovation rose 2.51 percent to 130,900 won, and S-Oil, whose largest shareholder is Saudi Aramco, shot up 28.45 percent to 141,300 won.

Defense giant Hanwha Aerospace soared 19.83 percent to 1.43 million won, and LIG Nex1 surged 29.86 percent to 661,000 won.

The Korean won was quoted at 1,466.1 won against the U.S. dollar at 3:30 p.m., down 26.4 won from the previous session’s close. It marked the lowest since Feb. 6, when the won-dollar rate was 1,469.5 won.

Bond prices, which move inversely to yields, closed sharply lower. The yield on three-year Treasurys increased 13.9 basis points to 3.180 percent, and the return on the benchmark five-year government bonds declined 14.6 basis points to 3.424 percent.

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Feb. 27 (Asia Today) — The United States has reaffirmed that it remains open to dialogue with North Korea without preconditions, South Korea’s chief nuclear envoy said Thursday, as Washington also reiterated its longstanding policy stance.

Jeong Yeon-du, director-general for strategy and intelligence at the Foreign Ministry, told reporters in Washington that he confirmed during meetings with senior U.S. officials that “the U.S. position of being open to dialogue with North Korea without preconditions remains unchanged.”

Jeong said he met with senior State Department officials, including Allison Hooker, Thomas DiNanno and Michael DeSombre, as well as congressional figures and Korea experts at major think tanks during his visit, which began Monday.

He said the two sides exchanged views on recent developments on the Korean Peninsula, including the outcome of North Korea’s ninth Workers’ Party Congress, and discussed pending issues based on the joint explanation released after the summit between President Lee Jae-myung and U.S. President Donald Trump last October in Gyeongju.

Jeong said Seoul explained its plan to continue supporting early resumption of U.S.-North Korea dialogue and to pursue long-term efforts to ease inter-Korean tensions and build trust, while adhering to the principle of denuclearization.

A White House official delivered a similar message this week in response to remarks by Kim Jong Un suggesting conditional willingness to improve ties with Washington.

“U.S. policy toward North Korea remains unchanged, and President Trump remains open to dialogue with Kim Jong Un without any preconditions,” the official said, recalling that Trump held three summits with the North Korean leader during his first term.

The statement was interpreted as reaffirming Washington’s twin positions: openness to talks without preconditions and continued pursuit of the complete denuclearization of the Korean Peninsula.

Kim recently said Pyongyang would maintain a “strongest stance” toward the United States but added that if Washington respects North Korea’s “current status” and withdraws what it calls a hostile policy, there would be no reason the two sides could not get along. His remarks were widely seen as a demand for recognition of North Korea as a nuclear state.

Despite the stated openness to dialogue, a senior South Korean government official said there are no new developments such as working-level contacts between Washington and Pyongyang. The official added that while the United States continues to signal it is open to talks, it does not appear to have moved to concrete preparatory steps.

Jeong said Seoul and Washington agreed to maintain close coordination through frequent communication at various levels. He also said he explained South Korea’s phased denuclearization proposal and listened to views in U.S. policy circles regarding North Korea.

Trump met Kim in Singapore in June 2018, in Hanoi in February 2019 and at the inter-Korean border village of Panmunjom in June 2019. While the first summit produced a joint statement on new bilateral relations and denuclearization, subsequent talks failed to yield an implementation agreement, and substantive negotiations have remained stalled.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260227010008277

Seoul shares closed lower Friday, snapping a six-session winning streak as investors locked in profits in technology and other large-cap stocks following recent gains. The Korean won sharply fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 63.14 points, or 1 percent, to finish at 6,244.13. The index still enjoyed a weekly gain of 7.5 percent.

Trading volume was heavy at 1.14 billion shares worth 52.94 trillion won (US$36.8 billion), with decliners far outnumbering gainers 625 to 264.

The KOSPI has remained in a bullish phase since the start of the year, surpassing the 4,500-point level for the first time on Jan. 6 and crossing the 5,000-point mark on Jan. 27. It broke through the 6,000-point level Wednesday, less than a month later.

On Thursday, the index jumped 3.67 percent to finish at a record high of 6,307.27.

Institutional and retail investors purchased a net 491.99 billion won and 6.08 trillion won worth of shares, respectively, while foreign investors sold a net 6.83 trillion won.

Analysts said the decline mirrored overnight losses in U.S. technology stocks, where investors engaged in profit-taking despite strong earnings from Nvidia Corp.

The tech-heavy Nasdaq Composite fell 1.18 percent, while the Dow Jones Industrial Average edged up 0.03 percent.

“Some investors sold shares to lock in profits after the market had rallied sharply over the past six sessions,” Lee Seong-hoon, an analyst at Kiwoom Securities Co., said.

Technology stocks led the declines.

Market bellwether Samsung Electronics fell 0.69 percent to 216,500 won, and its chipmaking rival SK hynix declined 3.46 percent to 1,061,000 won.

Leading shipbuilder HD Hyundai dropped 1.02 percent to 292,500 won, and leading shipping firm HMM shed 4.26 percent to 21,350 won.

Among gainers, top carmaker Hyundai Motor jumped 10.67 percent to an all-time high of 674,000 won, and defense firm Hanwha Aerospace climbed 0.08 percent to 1,195,000 won.

Leading steelmaker POSCO Holdings jumped 1.35 percent to 413,000 won, and No. 2 steelmaker Hyundai Steel surged 19.85 percent to 46,500 won.

The Korean won was quoted at 1,439.70 won against the U.S. dollar at 3:30 p.m., down 13.9 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 2.1 basis points to 3.041 percent, and the return on the benchmark five-year government bonds declined 3.6 basis points to 3.278 percent.

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Seoul shares surged more than 2 percent Tuesday to close at a fresh record high above the 5,900-point mark, driven by strong gains in technology shares. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 123.55 points, or 2.11 percent, to finish at an all-time high of 5,969.64.

The index has extended its upward momentum in recent weeks, surpassing the 5,000-point mark for the first time on Jan. 27 and crossing 5,500 on Feb. 12. It moved above 5,800 on Friday.

Trading volume was heavy at 1.58 billion shares worth 30.73 trillion won (US$21.3 billion), with decliners outnumbering gainers 465 to 407.

Institutions bought a net 2.37 trillion won worth of stocks, offsetting net sales of 199.16 billion won by foreign investors and 2.28 trillion won by retail investors.

The rally came despite overnight losses on Wall Street.

The Dow Jones Industrial Average fell 1.66 percent, and the tech-heavy Nasdaq Composite declined 1.13 percent.

In Seoul, investors scooped up major chip stocks ahead of an earnings report from U.S. chipmaker Nvidia later this week, while remaining cautious over U.S. President Donald Trump‘s push to impose new tariffs after the Supreme Court struck down his original sweeping duties, analysts said.

Trump signed an executive order Friday (U.S. time) authorizing new 10 percent global tariffs that took effect Tuesday. He has also threatened to raise the rate to 15 percent, though no formal order has been issued.

“Even if the global tariffs are raised to 15 percent, there will be no major impact on the local stock market because current U.S. tariffs on Korean imports already stand at 15 percent,” an analyst at IBK Securities Co. said.

Technology and automobile stocks led the gains.

Market bellwether Samsung Electronics jumped 3.63 percent to 200,000 won, while chip giant SK hynix surged 5.68 percent to a record high of 1,005,000 won.

Top automaker Hyundai Motor rose 0.19 percent to 524,000 won, and leading battery maker LG Energy Solution gained 4.17 percent to 412,500 won.

Among decliners, shipbuilder Hanwha Ocean fell 2.79 percent to 143,100 won, and Lotte Shopping declined 1.67 percent to 111,700 won.

The Korean won was quoted at 1,442.50 won against the U.S. dollar at 3:30 p.m., down 2.5 won from the previous session.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 0.4 basis point to 3.158 percent, and the return on the benchmark five-year government bonds also climbed 0.5 basis point to 3.410 percent.

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South Korea and Brazil have agreed to significantly deepen cooperation across key minerals, trade, technology and security, as President Lee Jae Myung hosted Brazilian President Luiz Inácio Lula da Silva in Seoul for the first Brazilian state visit in more than two decades. The summit, held at the Blue House, marked a symbolic reset in bilateral ties and produced an ambitious roadmap aimed at elevating relations to a strategic partnership.

The two leaders endorsed a four-year action plan designed to anchor cooperation in strategic minerals, advanced manufacturing, defence, space industries and food security. They also oversaw the signing of 10 memorandums of understanding covering trade and industrial policy, rare earths and other critical minerals, the digital economy including artificial intelligence, biotechnology and health, agricultural collaboration, small-business exchanges, and joint efforts to combat cybercrime and narcotics trafficking.

Critical Minerals at the Core

At the heart of the agreement lies a shared recognition of the growing geopolitical importance of critical minerals. Brazil holds significant reserves of rare earth elements and nickel, both essential to electric vehicles, renewable energy systems and high-tech manufacturing. South Korea, a manufacturing powerhouse heavily reliant on imported raw materials, is seeking to diversify supply chains amid intensifying global competition for resource security.

For Seoul, closer ties with Brasília offer an opportunity to secure stable access to strategic inputs while reducing exposure to concentrated supply routes. For Brazil, the partnership represents a chance to attract South Korean investment into mining, processing and downstream industries, potentially moving up the value chain rather than remaining primarily a raw-material exporter.

Trade Expansion and Industrial Policy Alignment

Brazil is South Korea’s largest trading partner in South America, and both governments signaled an intent to broaden the scope of commerce beyond traditional commodity flows. Industrial policy coordination featured prominently in the discussions, suggesting a shift toward co-development in sectors such as semiconductors, batteries and green technologies.

The emphasis on the digital economy and artificial intelligence reflects a convergence of economic strategies. South Korea’s advanced technological ecosystem complements Brazil’s expanding digital market, creating potential for joint ventures and technology transfers. Cooperation in biotech and health also indicates a recognition of demographic and public health challenges that transcend borders.

Security, Stability and Shared Democratic Narratives

Beyond economics, the leaders framed their partnership within a broader narrative of stability and democratic resilience. Lee emphasized support for peace on the Korean Peninsula, while Lula underscored Brazil’s interest in a balanced and rules-based international order.

Their personal rapport, shaped by shared experiences of early-life factory work and social mobility, added a human dimension to the diplomacy. Lee publicly praised Lula’s life story as emblematic of democratic progress, reinforcing a symbolic alignment that may help sustain political goodwill between the two administrations.

The inclusion of joint policing initiatives against cybercrime and transnational threats signals that the partnership extends into non-traditional security domains. As digital connectivity deepens, cyber resilience and coordinated law enforcement become integral to safeguarding economic integration.

Strategic Diversification in a Fragmented World

The timing of the summit is notable. As global trade faces renewed uncertainty and supply chains continue to recalibrate, middle powers such as South Korea and Brazil are seeking to hedge against volatility by strengthening bilateral and regional ties. By formalizing cooperation in minerals, technology and defence, both governments aim to insulate their economies from external shocks while positioning themselves within emerging industrial ecosystems.

The ceremonial elements of the visit including a state banquet blending Korean and Brazilian cultural traditions underscored the leaders’ intent to broaden engagement beyond transactional trade. Whether the newly signed agreements translate into measurable investment flows and industrial integration will depend on sustained political commitment and private-sector participation. Yet the framework established in Seoul suggests that both countries see strategic partnership not as a symbolic upgrade, but as a practical response to an increasingly fragmented global landscape.

With information from Reuters.

South Korean stocks topped the 5,800-point mark for the first time Friday to end at a fresh record high amid expectations that upcoming investor-friendly measures will help lift market valuations. The local currency fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 131.28 points, or 2.31 percent, to close at an all-time high of 5,803.53.

Trade volume was heavy at 1.73 billion shares worth 32.74 trillion won (US$22.64 billion), with winners outnumbering losers 543 to 340.

Institutions scooped up a net 1.61 trillion won worth of shares, while foreign and retail investors sold a net 745.06 billion won and 986.12 billion won worth of shares, respectively, for profit-taking.

After a three-day Lunar New Year holiday break, the index surged Thursday to top the 5,600 level, with experts saying pent-up demand accumulated during the holiday continued to flow into the stock market.

The KOSPI has been on a bull run recently, surpassing the 5,000 mark for the first time ever on Jan. 27 and the 5,500 level on Feb. 12.

“Geopolitical tensions have heightened after U.S. President Donald Trump signaled the possibility of military action against Iran following a 10-day negotiation deadline, and some analysts suggest the risk of a full-scale conflict is not negligible,” Kim Seok-hwan, an analyst at Mirae Asset Securities, said.

“But investors have maintained expectations for a series of measures by the government and companies to boost shareholder returns and overall market valuations,” he added.

U.S. shares lost ground Thursday (U.S. time) amid concerns about the U.S.-Iran situation and risks linked to massive investments in artificial intelligence (AI), as the U.S. private market and alternative assets manager Blue Owl Capital announced it is going to tighten investor liquidity.

Most large-cap shares finished higher, with chip and defense shares leading the market advance.

Market bellwether Samsung Electronics edged up 0.05 percent to 190,100 won, and chip giant SK hynix surged 6.15 percent to 949,000 won.

Carmakers traded mixed. Top automaker Hyundai Motor went down 0.78 percent to 509,000 won, while its sister affiliate Kia soared 1.06 percent to 171,800 won.

Leading battery maker LG Energy Solution fell 0.5 percent to 401,500 won, but AI investment firm SK Square advanced 2.47 percent to 580,000 won.

Nuclear power plant builder Doosan Enerbility surged 5.18 percent to 103,500 won, and defense giant Hanwha Aerospace spiked 8.09 percent to 1,242,000 won.

Leading shipbuilder HD Hyundai Heavy jumped 4.88 percent to 602,000 won, and its rival Hanwha Ocean shot up 6.61 percent to 149,900 won.

Pharmaceutical giant Samsung Biologics went up 0.93 percent to 1,736,000 won, while Celltrion dipped 1.02 percent to 242,000 won.

Financials gathered ground. KB Financial added 1.38 percent to 168,800 won, and Shinhan Financial grew 1.69 percent to 102,000 won.

Samsung Life Insurance climbed 4.78 percent to 219,000 won, and Mirae Asset Securities rose 0.57 percent to 70,900 won.

The Korean won was quoted at 1,446.65 won against the U.S. dollar at 3:30 p.m., down 1.15 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys lost 3.5 basis points to 3.143 percent, and the return on the benchmark five-year government bonds also shed 3.5 basis points to 3.391 percent.

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