FX.co ★ KOSPI Dips as Investors Brace for Tariff Deadline

On Friday, the KOSPI benchmark index declined by 0.7% to approximately 3,090, reversing gains from the previous session. This downturn occurred as investors grew wary amid persistent uncertainty about the potential reintroduction of tariffs ahead of an impending deadline. In reaction, President Lee Jae Myung underscored his administration's ongoing diplomatic efforts, with Trade Minister Yeo scheduled to visit Washington this weekend. The purpose of the visit is to intensify last-minute negotiations with U.S. officials to negotiate an extension of the three-month tariff suspension, which is due to expire on July 9. Domestically, South Korean stocks have seen an uplift due to proposed reforms in the Commercial Act, aimed at expanding board duties to encompass all shareholders. The government is additionally considering adjustments to dividend tax policies to enhance payouts and attract more foreign investment. In the corporate sector, losses were prominently seen among automobile manufacturers and chip companies, with LG Energy Solution dropping 1.41%, Hyundai Motor declining by 0.35%, Samsung Electronics decreasing by 0.31%, and SK Hynix slipping by 0.18%.