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KOSPI slides nearly 6% amid profit-taking in chips

KOSPI tumbled nearly 6 percent on Friday, as the index came under pressure from profit-taking after recent gains, in addition to a sharp overnight decline in U.S. equities. The benchmark index opened down 117.12 points, or 1.31 percent, at 8,813.18 and swung between gains and losses before closing at 8,411.21, down 519.09 points, or 5.81 percent, from the previous session. Heavy losses in large-cap technology stocks amplified the decline, with Samsung Electronics and SK hynix falling 5.29 percent and 8.36 percent, respectively. As selling intensified, pushing KOSPI down more than 8 percent from the previous day’s close for one minute, the Korea Exchange imposed a circuit breaker at 12:10 p.m., halting trading on the main board for 20 minutes. Earlier, a sidecar was triggered at around 11:12 a.m. after KOSPI 200 futures fell more than 5 percent, briefly curbing program-driven selling. The KOSPI circuit breaker was triggered for the fifth time this year, with nearly half of all 11 activations since the mechanism was introduced now occurring this year. In a rare sequence, the safeguard was

1d agoBy Jun Ji-hye
KOSPI slides nearly 6% amid profit-taking in chips

SK hynix Nasdaq ADR listing seen as potential support for won amid prolonged weakness

SK hynix’s planned American depositary receipt (ADR) listing on the Nasdaq next month is drawing attention as a potential catalyst for easing the won’s prolonged weakness, with the won-dollar exchange rate having remained above the 1,500 won level for nearly a month. Market experts estimate the listing could bring in as much as $30 billion to Korea. Should those funds be converted into won, the resulting increase in dollar supply could help ease upward pressure on the exchange rate and support the local currency. The major chipmaker’s board approved the issuance of new shares for the ADR offering and the Nasdaq listing last Thursday. The ADRs are scheduled to begin trading on July 10, with the subscription and settlement set for July 14. ADRs allow shares of foreign companies to be traded on U.S. stock exchanges, improving access for global investors. SK hynix plans to issue as many as 17.79 million new shares, or about 2.5 percent of its outstanding stock, as part of the Nasdaq ADR listing. Based on the company’s closing share price before the board approved the transaction, the

1d agoBy Jun Ji-hye
SK hynix Nasdaq ADR listing seen as potential support for won amid prolonged weakness

KOSPI reclaims 9,000 intraday as chip stocks surge on Micron earnings

KOSPI jumped more than 6 percent intraday Thursday to reclaim the 9,000 level, led by a surge in semiconductor stocks after U.S. memory chipmaker Micron Technology reported stronger-than-expected earnings. The benchmark index opened at 8,703.42, up 232.40 points, or 2.74 percent, from the previous day's close, and extended its gains to 9,000.88 by 2:24 p.m., rising 529.86 points, or 6.25 percent, from the previous session to reclaim the 9,000 mark. The index later surrendered part of its gains and closed at 8,930.30, up 459.28 points, or 5.42 percent, from the previous session. Reflecting strong buying momentum, a buy-side sidecar was triggered at 9:07 a.m., temporarily suspending program buy orders. The benchmark index drew support from Micron's better-than-expected quarterly results and upbeat guidance. Investor optimism toward the semiconductor sector further intensified ahead of second-quarter earnings announcements from Samsung Electronics and SK hynix. SK hynix's planned Nasdaq listing through American depositary receipts, tentatively scheduled for July 10, provided an additional ta

2d agoBy Jun Ji-hye
KOSPI reclaims 9,000 intraday as chip stocks surge on Micron earnings

Foreign sell-off in Samsung Electronics, SK hynix drags KOSPI down 10%

Korean stocks suffered a steep decline Tuesday as foreign investors offloaded shares across the board, dragging the benchmark KOSPI down by nearly 10 percent and triggering market stabilization measures. The KOSPI, which closed at a record high of 9,114.55 in the previous session, opened at 9,083.54, down 31.01 points, or 0.34 percent. After briefly moving into positive territory, the index reversed course and extended its losses throughout the session, finishing at 8,203.84, down 910.71 points, or 9.99 percent. The sell-off hit heavyweight chipmakers particularly hard, with Samsung Electronics and SK hynix, the market's two largest stocks, sliding 12.31 percent and 12.47 percent, respectively. As the downturn intensified, the Korea Exchange activated a circuit breaker on the main board at around 2:33 p.m., halting trading for 20 minutes. The measure was triggered after the KOSPI remained more than 8 percent below the previous day's closing level for at least one minute. Earlier, a sell-side sidecar was already imposed at around 11:40 a.m. following sharp declines in KOSPI 200 futures, t

Jun 23, 2026By Jun Ji-hye
Foreign sell-off in Samsung Electronics, SK hynix drags KOSPI down 10%

Labor unions seek 16.3% minimum wage hike, employers push for freeze

Labor and management began a fierce tug-of-war over next year's minimum wage Tuesday, with labor representatives seeking an increase of more than 16 percent and management representatives pushing for a freeze. The stark differences between the two sides are expected to complicate discussions in the coming months. The Minimum Wage Commission held its eighth plenary meeting at Government Complex Sejong, kicking off deliberations on next year's minimum wage, with labor and management representatives presenting their respective proposals. The commission consists of 27 members — nine representatives each from labor, management and the public interest sector. Ahead of formal negotiations, labor representatives submitted an opening proposal calling for the hourly minimum wage to be raised to 12,000 won ($7.8), up 16.3 percent from the current 10,320 won. “The minimum wage plays a critical role in protecting low-income workers and reflects the level of social equity in the country,” the Federation of Korean Trade Unions and the Korean Confederation of Trade Unions, the nation’s two larges

Jun 23, 2026By Jun Ji-hye
Labor unions seek 16.3% minimum wage hike, employers push for freeze

SK hynix overtakes Samsung in market value amid AI-driven chip boom

SK hynix overtook Samsung Electronics to claim the top position on KOSPI by market capitalization on Monday, ending Samsung's reign of 25 years and seven months as the benchmark index's most valuable listed company. KOSPI, meanwhile, edged higher to close above the 9,100 mark, setting a new record high on a closing basis. According to the Korea Exchange, SK hynix recorded a market capitalization of about 2,080.38 trillion won ($1.35 trillion), surpassing Samsung Electronics’ 2,066.66 trillion won by about 13.72 trillion won on a closing price basis. Samsung Electronics first claimed KOSPI's top spot by market capitalization on July 29, 1999, and had maintained its dominance uninterrupted since Nov. 21, 2000. The change at the top comes amid a rally in the semiconductor sector fueled by surging demand tied to the artificial intelligence (AI) boom. While both Samsung Electronics and SK hynix have benefited from the trend, SK hynix has delivered markedly stronger stock performance, ending Samsung's long-standing reign as the market's most valuable company. Samsung's shares have risen nearly

Jun 22, 2026By Jun Ji-hye
SK hynix overtakes Samsung in market value amid AI-driven chip boom

Gold's unusual price swings leave investors at crossroads

Gold, a traditional safe haven asset, has recently confounded investors with price movements that defy conventional market expectations, according to market watchers Thursday. Prices fell during a period of escalating military tensions between the United States and Iran, only to rebound after the two sides reached a ceasefire agreement, challenging the long-held assumption that gold rises during wars and declines once conflicts subside. Unusual movements in gold prices have fueled debate among investors over whether the recent correction signals further losses ahead or a buying opportunity. According to the Korea Exchange, the domestic spot gold price rose for four consecutive trading sessions, climbing from 208,820 won ($137) per gram on Monday to 209,640 won on Tuesday, 209,700 won on Wednesday and 210,530 won on Thursday. Gold prices had fallen below the 200,000 won mark, touching an intraday low of 196,780 won on June 11 as the Middle East conflict continued. They later rebounded after U.S. President Donald Trump announced on June 14 that an agreement had been reached with Iran to en

Jun 18, 2026By Jun Ji-hye
Gold's unusual price swings leave investors at crossroads

KOSPI climbs for 4th session on ceasefire optimism, though momentum weakens

KOSPI continued its upward trajectory Tuesday, following news of a ceasefire agreement between the United States and Iran, though the pace of gains slowed compared with the previous session. The country’s benchmark index opened at 8,696.55, up 150.57 points, or 1.76 percent, extending its winning streak to a fourth consecutive session. The rally, however, lost momentum as trading progressed, with the index briefly falling to 8,540.41 around 10 a.m. It later rebounded to close at 8,726.60, up 180.62 points, or 2.11 percent. The gains were notably more modest than Monday’s 5.20 percent surge. Overnight on Wall Street, all three major indexes ended higher as investor sentiment improved after Washington and Tehran agreed to formally sign a peace accord in Geneva on Friday. The Dow Jones Industrial Average climbed 0.92 percent to a record close. The S&P 500 added 1.65 percent, while the tech-heavy Nasdaq Composite jumped 3.07 percent. Oil prices also fell sharply as geopolitical tensions eased. Brent crude and U.S. West Texas Intermediate futures declined 4.9 percent and 4.8 percent, resp

Jun 16, 2026By Jun Ji-hye
KOSPI climbs for 4th session on ceasefire optimism, though momentum weakens

Foreign investors return to KOSPI buying, powering rally above 8,000

Foreign investors returned to net buying in the KOSPI market on Friday for the first time in 25 trading days, fueling a sharp rally that briefly sent the benchmark index soaring past the 8,400 mark during intraday trading. KOSPI opened 6.44 percent higher at 8,263.85, up 499.90 points from the previous session, and briefly surged as much as 8.5 percent to hit an intraday high of 8,424.13 before paring gains to close at 8,123.62, up 359.67 points, or 4.63 percent, on the day. The rapid advance in KOSPI futures prompted the Korea Exchange to activate a sidecar, temporarily halting program buy orders early in the trading session. Foreign investors played a pivotal role in KOSPI’s rebound, snapping a prolonged selling streak with net purchases of 2.12 trillion won ($1.4 billion) on the day. Institutional investors also lent strong support, buying a net 2.4 trillion won in stocks. The return to net buying came after nearly a month of heavy foreign outflows that had weighed on the market. Before Friday, overseas investors had sold a net 75.6 trillion won worth of KOSPI shares over 24 straigh

Jun 12, 2026By Jun Ji-hye
Foreign investors return to KOSPI buying, powering rally above 8,000

KOSPI rout pushes forced stock sales to highest level in nearly 3 years

The recent increase in stock market volatility is raising fears that retail investors who used borrowed funds to buy stocks could face heavy losses, analysts said Wednesday. Warning signs surrounding leveraged bets intensified after forced liquidations during last week’s sharp KOSPI decline climbed to their highest level in nearly three years. Data from the Korea Financial Investment Association showed that actual forced liquidations against outstanding margin loans surged to 166.2 billion won ($109 million) on Friday, when the benchmark KOSPI tumbled 5.54 percent. The figure was sharply higher than the 16.8 billion won to 33.1 billion won range recorded between June 1 and 4. It marked the highest level since Oct. 20, 2023, when forced liquidations soared to a record 549.7 billion won due to massive unpaid margin balances triggered by the trading halt of Young Poong Paper. The ratio of forced liquidations to margin loans reached 9.1 percent also on Friday, the highest level this year. In margin trading, investors buy stocks with short-term funds borrowed from brokerage firms. Although o

Jun 10, 2026By Jun Ji-hye
KOSPI rout pushes forced stock sales to highest level in nearly 3 years
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