28.01.202601:08:28UTC+00South Korean Shares Set New Record

On Wednesday, the benchmark KOSPI continued its impressive upward trajectory, climbing over 1% to surpass the 5,100 mark, thereby reaching a new all-time high. This rise was driven by widespread gains across pivotal sectors, which helped overshadow renewed tariff threats from the United States. Chipmakers were at the forefront of this rally, with major players like Samsung Electronics and SK Hynix posting increases of more than 1%. Significant performers included the leading battery manufacturer LG Energy Solution, which jumped over 7%, along with automakers Hyundai Motor and Kia Corp, which rose by 2.4% and 0.5%, respectively. In the backdrop, the Trump administration is pressing South Korea to fully execute its half-year-old trade pact to prevent tariffs from escalating to 25%. According to US officials, progress has been slow, citing setbacks in ratifying the agreement and implementing digital services legislation. The US Trade Representative has already engaged in discussions with South Korean counterparts, with additional talks planned in Washington. President Trump has indicated that a resolution to the dispute could be achieved expeditiously.