FX.co ★ South Korean Shares Rebound

The KOSPI index experienced a 0.4% increase on Tuesday, reaching 2,614 points, as it rebounded from the prior session’s downturn. This uptick comes amid investors' attention on the ongoing US-South Korea tariff discussions. Both Seoul and Washington are gearing up for a new series of technical negotiations in the United States, with the South Korean team scheduled to arrive on May 20. The objective of these talks is to secure a thorough "package" agreement by the start of July. In April, the US implemented reciprocal tariffs against its trading partners, which included a 25% tariff on South Korean imports. These tariffs have been suspended for 90 days to facilitate bilateral discussions. In the corporate arena, notable gains were observed, with Samsung Electronics increasing by 1.3% and SK Hynix climbing by 2.7%. The automotive sector also saw positive performance, with Hyundai Motor rising by 1.5% and Kia Corporation up by 1.1%. On the other hand, battery sector stocks faced downward pressure, as LG Energy Solution dropped by 3.4% and Samsung SDI declined by 2.9%.