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369 stories mentioning KOSDAQUpdated 11h ago

Rose alongside the Kospi as the US-Iran deal and strong semiconductor-driven export price data lifted South Korean investor sentiment.

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Update: Market Chatter: South Korean Prosecutors Accuse Eight Petrochemical Executives of Price Fixing

(Updates with LG Chem's response in the fourth paragraph.)The South Korean prosecutors have accused eight current and former executives of domestic petrochemical companies and have sought their arrest for suspected participation in a price-fixing scandal involving several trillion won, Yonhap News reported Monday.Among the accused executives are OCI Chief Executive Kim Yoo-shin and former PKC CEO Jang Young-soo, and the Seoul Central District Prosecutors suspect seven companies, including LG Chem, Hanwha Solutions, Aekyung Chemical, OCI, Lotte Fine Chemical, PKC, and Unid, were together involved for several years in fixing higher prices for eight petrochemical products.Prosecutors claimed the companies allegedly made illicit profits totaling several trillion won due to the Middle East conflict disrupting naphtha supply, and authorities raided and questioned Kim and Jang as part of the investigation on Aug. 5.LG Chem toldon Tuesday that the matter is subject to an ongoing prosecution investigation and that it is unable to comment on or confirm details related to the case. The company referred further inquiries to the relevant prosecution authorities.Hanwha Solutions, Aekyung Chemical, OCI, Lotte Fine Chemical, PKC and Unid did not immediately respond to requests for comment fromon Monday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

South Korean Shares Closed Lower for Fourth Day on Macro Uncertainty, AI Industry Concerns

South Korean shares closed lower for a fourth straight session on Tuesday as investors remained cautious over macroeconomic uncertainty and concerns over calls by AI industry leaders to slow development in the industry. Investors now look forward to the U.S. Federal Reserve's Sept. 15-16 policy meeting.The Korea Composite Stock Price Index, or Kospi, decreased by 57.11 points, or about 0.9%, to close at 6,627.26. The Kosdaq rose by 5.62 points, or 0.7%, to close at 812.41.Oil prices remained elevated after Oman postponed a meeting with Iran and other regional countries on future control of the Strait of Hormuz. Brent crude settled at $105.68 a barrel Monday, while U.S. crude traded around $101, more than 20% above levels a month earlier. Fighting in Yemen also intensified, raising concerns over disruptions to Saudi oil exports through the Red Sea.In economic news, South Korean insurance companies saw a decline in automobile insurance profit in the first half of 2026, preliminary data from the Financial Supervisory Service showed Tuesday.The combined profit of insurers offering automobile insurance fell 37.7% to 238 billion won in the January-June period from 382 billion won a year earlier, the data showed.Automobile insurance premiums totaled 10.64 trillion won, up 4.2% from 10.21 trillion won in the same period a year earlier.In corporate news, Hyosung Heavy Industries (KRX:298040) secured two transformer purchase agreements from HICO America Sales & Tech, one for a 345kV transformer and another for a 765kV transformer, according to two separate filings with the Korea Exchange on Tuesday.The order for the 345kV transformer is valued at 166.52 billion won, to be delivered by August 2028 and the order for the 765kV transformer is valued at 220.07 billion won and will be delivered by February 2029, the filing said.Shares of Hyosung Heavy Industries fell over 4% at market close.

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Asia

Market Chatter: South Korea's First After-Market Session Draws KRW1.8 Trillion in Traded Shares

South Korea's first after-market stock trading session on Monday generated 1.8 trillion won in traded stocks, Yonhap News Agency reported on the same day, citing the Korea Exchange.The amount was equivalent to about 72.2 million traded shares, according to the report.The four-hour after-market session ran from 4 pm to 8 pm, with most stocks listed on the Korea Composite Stock Price Index (KOSPI) and Kosdaq available for trading, the report said.However, trading of exchange-traded funds and exchange-traded notes was not allowed to prevent market volatility, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

South Korea's Auto Insurance Profit Falls 37.7% in H1

South Korean insurance companies saw a decline in automobile insurance profit in the first half of 2026, preliminary data from the Financial Supervisory Service showed Tuesday.The combined profit of insurers offering automobile insurance fell 37.7% to 238 billion won in the January-June period from 382 billion won a year earlier, the data showed.Automobile insurance premiums totaled 10.64 trillion won, up 4.2% from 10.21 trillion won in the same period a year earlier.

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International

South Korea's Export Prices Grow at Slower Pace in August

South Korea's export prices surged 42.4% year over year in August, according to preliminary data released by the Bank of Korea on Tuesday.The pace of growth eased from the revised 48.9% increase recorded the previous month. It missed the consensus forecast of 52.0% tracked by Trading Economics.On a month-over-month basis, export prices edged down 3.7%, compared with a 0.9% rise in the preceding month.Meanwhile, import prices rose 15.6% from a year earlier, compared with a revised 18.8% expansion in the prior month.

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Asia

South Korean Shares Decline Over 3% on Tech Losses, Rising Oil Prices Amid Middle East Tensions

South Korean shares fell more than 3% on Monday as investors sold technology heavyweights amid ongoing geopolitical uncertainty in the Middle East and increasing oil prices.Global and U.S. oil prices extended gains early Monday after attacks on Saudi oil infrastructure and further targeting of commercial vessels in the Strait of Hormuz. Brent crude rose nearly 3% to above $107 a barrel, while West Texas Intermediate crude gained about 3% to approach $103 a barrel.The Korea Composite Stock Price Index, or Kospi, decreased by 225.54 points, or about 3.3%, to close at 6,684.37. The Kosdaq also fell by 13.85 points, or 1.7%, to close at 806.79.In economic news, South Korea's first investment project in the U.S. under the bilateral tariff agreement signed in 2025 is expected to close soon, pending further negotiations, Yonhap News reported Sunday, citing Industry Minister Kim Jung-kwan.South Korea aims to finalize and potentially announce the agreement later this week. The investment project is part of the country's $350 billion investment commitment made in exchange for lowering U.S. reciprocal tariffs to 15% from 25%. Potential destinations comprise a large gas-fired power plant in Texas and a nuclear power project.In corporate news, SK Biopharmaceuticals (KRX:326030) secured a 71.6 billion won pharmaceutical supply agreement for its anti-seizure medication Cenobamate with its US unit SK Life Science, according to a Monday filing with the Korea Exchange.The product is marketed in the US as XCOPRI. Cenobamate is a drug for treating epilepsy.Shares of the company fell nearly 1% at market close.In other news, Samsung Heavy Industries (KRX:010140) secured a 1.408 trillion won contract to build four LNG carriers for an undisclosed Oceania-based client, according to a Monday filing with the Korean Exchange.The contract is expected to be fulfilled by Sept. 28, 2029.Shares of Samsung Heavy Industries added over 3% at market close.

^KOSDAQKOSPIKRX:010140KRX:326030
Asia

Market Chatter: Korea Exchange to Extend Trading Hours till 8PM

South Korea's main stock market, the Korea Exchange, will enable trading till 8 pm following the regular close at 3:30 pm from Monday, in its move toward 24-hour trading, Bloomberg News reported Sunday.This decision opens 2,400 Korea Composite Stock Price Index, or Kospi, and Kosdaq stocks for evening trades, which include short-selling. The move excludes exchange-traded funds, the report said.The Korea Exchange plans to introduce pre-market trading by the end of next year, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

South Korea Nears Agreement with US on Investment Deal, Further Negotiations Needed: Industry Minister Kim

South Korea's first investment project in the U.S. under the bilateral tariff agreement signed in 2025 is expected to close soon, pending further negotiations, Yonhap News reported Sunday, citing Industry Minister Kim Jung-kwan.Kim spoke to the news agency at the Incheon International Airport while making his way back from the U.S. after meeting with U.S. officials, which included Commerce Secretary Howard Lutnick.South Korea aims to finalize and potentially announce the agreement later this week. The investment project is part of the country's $350 billion investment commitment made in exchange for lowering U.S. reciprocal tariffs to 15% from 25%. Potential destinations comprise a large gas-fired power plant in Texas and a nuclear power project, the report said.

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Asia

Anthropic CEO Urges AI Slowdown, Backed by OpenAI, Musk; Trump Downplays Risks

Anthropic CEO Dario Amodei has called on artificial intelligence companies to slow model development, citing risks of losing control of AI systems, misuse of the technology for cyberattacks and bioterrorism and the potential for serious economic disruption.Amodei stressed the need for "adequate time to align and safeguard" AI companies' models in a recent essay.The call gained support from OpenAI CEO Sam Altman and Tesla and SpaceX CEO Elon Musk.However, US President Donald Trump downplayed the AI risks, telling reporters over the weekend in Ireland: "We could put guardrails. We ​can do this and that. But I think you have a lot of very negative ⁠forces that are bringing it up that shouldn't be bringing it up and they're bringing up things that won't ​happen," Reuters reported.

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Asia

South Korean Shares Decline Sharply on High Oil Prices, Investors Eye U.S. Inflation Data

South Korean shares fell sharply on Friday as oil prices remained high, fueling inflation concerns and weighing on investor sentiment ahead of key U.S. inflation data.Escalating Middle East tensions also triggered a sell-off in U.S. equities overnight. Oil prices eased Friday but remained on track to close the week above $100 a barrel, with Brent crude down 1.5% at $105.99 and West Texas Intermediate crude down 1.3% at $101.20.The Dow Jones Industrial Average fell 0.6%, while the S&P 500 and Nasdaq Composite declined 0.6% and 0.7%, respectively, marking their fourth consecutive losing sessions.The Korea Composite Stock Price Index, or Kospi, decreased by 124.01 points, or about 1.8%, to close at 6,909.91. The Kosdaq also fell by 16.28 points, or 2%, to close at 820.64.In economic news, South Korea's privacy watchdog said companies suffering personal information leaks affecting over 10 million people will face strengthened penalties starting this week.The revised law, effective Friday, allows fines of up to 10% of sales for breaches caused by intentional misconduct or gross negligence, citing the Personal Information Protection Commission.Repeat offenders within three years or those ignoring corrective orders also face punishment, up from the previous 3% cap.The commission added that penalties may be reduced by up to 40% based on a company's investment in data protection and safety measures.In corporate news, Hanwha Aerospace (KRX:012450) secured a 641.09 billion-won order to supply Chunmoo multiple launch rocket systems (MLRS) to Croatia's Ministry of Defence.The Friday disclosure confirms earlier reports that Hanwha was nearing a deal with Croatia. The company had said on Sept. 7 that it was in discussions with the customer, but the export deal had yet to be finalized.Under the payment terms, 25% of the contract value will be paid within 30 calendar days of contract signing, 35% within 30 calendar days after 12 months from contract signing, and the remaining amount within 30 days of delivery.Shares of Hanwha Aerospace added over 1% at market close.

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Asia

South Korea's Kospi Falls on Higher Oil Prices as Middle East Tensions Rise

South Korea's Kospi closed lower on Thursday as surging oil prices amid escalating Middle East tensions stoked inflation concerns ahead of key U.S. inflation data.Investors awaited the U.S. producer price index due later Thursday and consumer inflation data on Friday, which could influence the U.S. Federal Reserve's interest-rate outlook.The Korea Composite Stock Price Index, or Kospi, decreased by 17.72 points, or about 0.3%, to close at 7,033.92. The Kosdaq, however, rose by 6.55 points, or 0.8%, to close at 836.92.Reports of explosions in Iran's coastal regions added to geopolitical uncertainty, while U.S. President Donald Trump said the war could end after November's midterm elections and predicted lower oil prices.Explosions in Iran's coastal regions added to geopolitical uncertainty, while President Donald Trump said the war could end after November's midterm elections. Brent crude was little changed at $101.22 a barrel, and WTI rose 0.3% to $96.33..In economic news, South Korea plans to put in place measures that boost economic recovery and growth through structural reforms, Deputy Prime Minister Koo Yun-cheol said at the Economic Relations Ministers' Meeting on Wednesday.Koo noted that nominal gross domestic product rose 26.4% in the second quarter on an on-year basis, which was the fastest growth in 47 years, while employment increased by 184,000 in August.Koo expects that it'll be faster to achieve a per capita gross national income of $40,000.The government plans to unveil steel industry upgrade measures in Q4 and ease regulations on Knowledge Industry Centers, alongside inspections targeting fraudulent activities.In corporate news, S-Oil (KRX:010950) secured a petroleum products supply agreement worth 4.115 trillion won from NongHyup Agribusiness Group, according to a Thursday filing with the Korea Exchange.The petroleum products will be supplied across the country's central region, including Seoul, Incheon, Daejeon, and Sejong, and the southern region, including Busan, Daegu, and Ulsan, the filing said.Shares of S-Oil fell over 7% at market close.

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Asia

South Korea to Implement Structural Reforms to Aid Economic Recovery

South Korea plans to put in place measures that boost economic recovery and growth through structural reforms, Deputy Prime Minister Koo Yun-cheol said at the Economic Relations Ministers' Meeting on Wednesday.Koo noted that nominal gross domestic product rose 26.4% in the second quarter on an on-year basis, which was the fastest growth in 47 years, while employment increased by 184,000 in August.Koo expects that it'll be faster to achieve a per capita gross national income of $40,000, it said.The government plans to announce steel industry upgrade measures in the fourth quarter, focusing on AI-driven manufacturing, high-value-added specialty steel and hydrogen-based steelmaking. The country will also ease regulations on Knowledge Industry Centers, including allowing broader tenant eligibility and converting vacant units into public rental housing, the filing said.Authorities plan to carry out intensive inspections targeting fraudulent activities, such as manipulating export figures to secure new stock listings, policy-based financial support, or government subsidies; passing off low-cost imports as domestic products; and making fraudulent deliveries in public procurement, it said.

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Asia

South Korean Stocks Rise as Chip Stocks Rally on AI Optimism Despite Middle East Tensions

South Korean stocks closed higher on Wednesday as gains in major chipmakers, fueled by continued optimism over AI, outweighed concerns over escalating tensions in the Middle East.Escalating hostilities between the U.S. and Iran pushed Brent crude to $99.49 a barrel in early trading on Wednesday after the U.S. struck five Iranian oil tankers and Tehran responded with missile attacks on U.S. forces and vessels in the region.The Korea Composite Stock Price Index, or Kospi, increased by 97.12 points, or 1.4%, to close at 7,051.64. The Kosdaq also rose by 18.49 points, or 2.3%, to close at 830.37.In economic news, South Korea's seasonally adjusted unemployment rate fell marginally to 2.7% in August from 2.8% the previous month, according to data from the Ministry of Data and Statistics released on Wednesday.The reading was in line with Trading Economics' forecast, but was down from 2.8% the previous year.The number of unemployed persons totaled 588,000 in August, down from 776,000 in July.The labor force participation rate edged down to 64.6% in August from 65% in July, with the total number of employed persons rising to 29.2 million from 29.1 million the previous month.In corporate news, Posco (KRX:005490) union workers began the first day of their two-day partial strike on Wednesday after negotiations with management over wages and other compensation failed in South Korea, Yonhap News reported the same day.Workers began a 48-hour partial strike, with 40 participating employees at the Pohang plant and 80 at the Gwangyang plant. The union is seeking a 7.1% base pay raise, a 600% performance bonus, 50 company shares per worker and a 200% holiday bonus, while management has proposed a 2% wage hike, the report said.The steelmaker expects negligible impact on production due to the lower worker participation and plans measures to prevent overall operational disruptions.Posco did not immediately respond to a request for comment from.Shares of the company rose nearly 3% at market close.

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Asia

South Korea Denies Report on US Demand to Raise Investment Pledge

The South Korean government has denied a report saying the U.S. has demanded an increase in an agreed investment originally set at $350 billion, according to a Wednesday statement.The US is reportedly urging South Korea to raise a promised investment related to their bilateral tariff negotiations, according to Yonhap News Agency, citing an unnamed lawmaker.The pledge includes a $200 billion investment in strategic industries and $150 billion in the U.S. shipbuilding industry, the report said.In the statement, the South Korean government said it cannot verify the details of its investment as the two countries are still negotiating the deal.However, it clarified that there was no demand from the U.S. to increase the investment.According to a memorandum of understanding, the investment should not exceed $200 billion and the annual remittance limit should not extend beyond $20 billion.

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International

South Korea's Seasonally Adjusted Unemployment Rate Falls Marginally in August

South Korea's seasonally adjusted unemployment rate fell marginally to 2.7% in August from 2.8% the previous month, according to data from the Ministry of Data and Statistics released on Wednesday.The reading was in line with Trading Economics' forecast, but was down from 2.8% the previous year.The number of unemployed persons totaled 588,000 in August, down from 776,000 in July.The labor force participation rate edged down to 64.6% in August from 65% in July, with the total number of employed persons rising to 29.2 million from 29.1 million the previous month.

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Asia Markets

South Korean Shares Close Lower on Rate-Hike Concerns, Middle East Tensions

South Korean shares closed lower on Tuesday as investors remained cautious over the prospect of U.S. interest rate hikes amid escalating tensions in the Middle East.The Korea Composite Stock Price Index, or Kospi, decreased by 40.87 points, or 0.6%, to close at 6,954.52. The Kosdaq also fell by 10.31 points, or 1.3%, to close at 811.88.Middle East tensions pushed Brent crude toward the $100-a-barrel mark Tuesday, with prices trading around $97-$98 as escalating U.S.-Iran conflict fueled concerns over energy supply disruptions and key oil shipping routes. West Texas Intermediate crude remained above $92.Iran threatened the U.S. with "economic warfare" and announced a new maritime exclusion zone in the Persian Gulf, while claiming to have fired an advanced missile at U.S. warships. Iran-backed Houthi forces attacked several Saudi Arabian cities on Tuesday, injuring 73 people, according to a spokesperson of the Saudi-led coalition in Yemen.In economic news, South Korea's GDP grew 3.7% year over year in the second quarter, according to preliminary data released by the Bank of Korea on Tuesday.The pace of growth was softer than the 3.8% expansion recorded in the previous quarter, but was in line with the consensus forecast for a 3.7% growth, according to Investing.com.On a quarter-over-quarter basis, the economy expanded 0.6%, compared with the 1.8% growth in the previous quarter. It was also in line with the consensus forecast of 0.6%.In corporate news, Chinhung International (KRX:002780) secured a project to build 224 apartment units and associated amenities in Gangseo-gu, Seoul, according to a Tuesday filing with the Korea Exchange.The contract with Daegeun Row House Redevelopment Cooperative is valued at 90.5 billion won, the filing said.Shares of Chinhung International fell nearly 7% at market close.

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South Korea's Nominal GDP Growth Hits 47-Year High on Tech Boom
US Markets

South Korea's Nominal GDP Growth Hits 47-Year High on Tech Boom

South Korea's nominal GDP expanded 26.4% year over year in the second quarter, marking the fastest pace of nominal growth in 47 years amid surging global demand for artificial intelligence and semiconductors.Meanwhile, the country's real GDP advanced 3.7% year over year, matching preliminary estimates, according to data from the Bank of Korea on Tuesday.The robust headline figures aligned with market expectations, driven largely by sustained strength in tech exports. Overseas shipments rose 1.3% during the quarter, while investment in intellectual property jumped 3.4% on solid R&D and software demand.Facilities investment also edged up 0.2%, supported by capital spending on semiconductor manufacturing equipment.Domestic demand showed continued resilience, with private consumption growing 0.4% across goods and services. Government spending ticked up 0.1% on higher healthcare spending, though construction investment slipped 0.1% due to softer civil engineering activity.The 47-year nominal growth milestone coincided with an aggressive fiscal plan unveiled by South Korean President Lee Jae-Myung's administration. The government has proposed a record 821 trillion won national budget for 2027, up 12.8% from 2026. The investment is aimed at bolstering the country's semiconductor and AI supply chains.

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Asia

Market Chatter: Retailer Musinsa Files Application for South Korea Listing

Musinsa, the South Korean retailer backed by U.S.-based investment firm KKR & Co., submitted an application on Monday for a preliminary review by the Korea Exchange for listing on the country's primary stock exchange, Bloomberg News reported the same day, citing a company spokesperson.The company may seek a valuation of up to 10 trillion won, as it aims to list later this year or early in 2027, according to the news agency.Musinsa did not immediately respond to' request for comment(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

South Korea's GDP Growth Slows in Q2

South Korea's GDP grew 3.7% year over year in the second quarter, according to preliminary data released by the Bank of Korea on Tuesday.The pace of growth was softer than the 3.8% expansion recorded in the previous quarter, but was in line with the consensus forecast for a 3.7% growth, according to Investing.com.On a quarter-over-quarter basis, the economy expanded 0.6%, compared with the 1.8% growth in the previous quarter. It was also in line with the consensus forecast of 0.6%.

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Asia

South Korean Shares Hit Five-Week High on Chip Stock Gains; Samsung Adds 6%, SK Hynix Jumps 8%

South Korean shares jumped nearly 5% at at Monday's close, hitting a five-week high, as OpenAI launched its next‑generation AI model, which lifted demand for AI‑related and semiconductor stocks.The Korea Composite Stock Price Index, or Kospi, increased by 308.18 points, or 4.6%, to close at 6,995.39. The Kosdaq also rose by 8.69 points, or 1.1%, to close at 822.19.Shares of market bigwigs Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added 6% and over 8% at market close.In corporate news, CS Wind (KRX:112610) secured a contract worth roughly 151 billion won with Vestas American Wind Technology on Friday for the supply of wind turbine structures. The order is valid until July 2, 2027.Shares of CS Wind gained 4% at market close.LG Electronics (KRX:066570) denied media reports that its U.S. unit Bear Robotics is seeking a Nasdaq listing, saying no decision has been made and that it will issue a follow‑up disclosure once details are finalised or within one month.LG shares jumped more than 6% at the close.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:112610

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