The KOSPI index registered a 0.2% increase, reaching 2,648 points as of Monday, recovering some of its earlier losses. This uptick was primarily driven by gains in the automobile and defense sectors, which helped balance out the declines in prominent tech stocks. Hyundai Motor saw a rise of 2.2%, with Kia Corporation improving by 2.1%. On the defense front, Hanwha Aerospace notably jumped 7%. Conversely, Samsung Electronics, a leading name in technology, slipped by 0.7% and SK Hynix by 0.9%.
In political developments, South Korea’s Constitutional Court has reinstated Prime Minister Han Duck-soo, overturning his impeachment. Han played the role of acting leader who succeeded President Yoon Suk Yeol after his impeachment, which was prompted by his controversial declaration of martial law. However, Han's time in the acting position lasted under two weeks before he faced impeachment and suspension himself, due to his conflict with the opposition-dominated parliament over the rejection to appoint three additional Constitutional Court justices.
