FX.co ★ SK Stocks Inch Higher on US Investment Pledges

On Wednesday, the KOSPI index experienced a slight uptick of 0.06%, climbing to approximately 3,180. This modest recovery followed a dip in the previous session and was bolstered by the positive outcomes of recent summits and an uplift in business sentiment, which collectively strengthened investor confidence. The announcement of new investment commitments underlined the deepening economic collaboration between South Korea and the United States. Notably, Korea Gas Corp revealed its plan to purchase an additional 3.3 million tons of LNG from the US each year, starting from 2028, for a duration of ten years. This move aims to bolster energy security and enhance bilateral trade relations. Meanwhile, Hyundai Motor Group increased its US investment plans to $26 billion over the next four years, a rise from the $21 billion announced in March, focusing on sectors including steel, automotive, and robotics. Furthermore, business sentiment improved by 1.4 points, reaching 91.0 in August—the highest it has been since November 2024, marking the first rise in three months, indicative of decreasing tariff uncertainties and enhanced corporate outlooks. Leading the gains were companies such as HD Hyundai Heavy Industries, with an increase of 6.62%, Hyundai Motor, which rose by 0.46%, and Samsung Biologics, up by 0.29%.