FX.co ★ South Korea Shares Retreat on Profit-Taking

The KOSPI benchmark index saw a decline of 0.17%, settling around 3,197 on Tuesday as it pulled back from nearly a four-year high, following recent gains. Investors opted to lock in profits, fostering a more cautious market atmosphere. Although Trade Minister Yeo Han-koo indicated that an agreement in principle with the United States was imminent after top-level negotiations aimed at preventing significant tariffs, caution still prevailed. To avoid a 25% tariff on its exports, South Korea is actively working to finalize a trade compromise, potentially offering the US greater access to its agricultural sector. Yeo also noted that the remaining 20 days before the August 1 deadline might not be sufficient to finalize a comprehensive treaty. On the corporate side, significant declines were observed in SK Hynix, which fell by 2.50%, Hyundai Motor by 2.07%, Kia Corporation by 1.94%, and KB Financial Group by 1.52%.