FX.co ★ Korean Shares Fall on Profit-Taking

The benchmark KOSPI fell 2.03% to around 6,179 on Friday, pulling back from record highs as investors locked in profits after a sharp rally. The decline followed a more than 3% surge in the previous session, when the index closed above the 6,300 level for the first time. Major blue chips weakened, with notable losses in Samsung Electronics (-2.06%), SK Hynix (-4%), Hyundai Motor (-1.64%), Kia Corp (-2.67%), and SK Square (-5.30%). External sentiment also weighed on the market, as US equities offered limited support after Nvidia Corp. dropped 5.5% despite reporting strong earnings. On the policy front, Lee Jae Myung reiterated his commitment to strengthening the capital market and enhancing corporate valuations. After the index’s landmark break above 6,000, he emphasized that reform efforts aim to eliminate the long-standing “Korea discount” and support a structural re-rating of the market.