FX.co ★ South Korea Shares Rise on Supplementary Budget Measures

The KOSPI index increased by 0.8% to approximately 3,000 on Friday, marking its highest point in three and a half years, as investors redirected their attention to the finalized plans for the second supplementary budget. The government introduced a support initiative that comprises increased allocations totaling $22.2 billion. This includes $11.1 billion aimed at economic stimulus, $3.6 billion dedicated to small and medium-sized enterprises (SMEs), and $7.5 billion to address revenue deficits in the ongoing annual budget. The plan is poised for submission to the National Assembly on June 23, with approval anticipated by early July and distribution of vouchers planned for mid-July. These measures were seen by investors as a strong indication of the government’s resolve to sustain economic growth in the face of persistent global uncertainties. Within the corporate sector, notable performance was seen from SK Hynix (up 2.3%), LG Energy Solution (up 1.7%), and Samsung Electronics (up 0.3%).