The South Korean stock market gained over 1 percent on Thursday, fueled by strong performances in tech and steel sectors. Investors responded positively to news on trade talks and shareholder-friendly legislative changes.
The benchmark KOSPI rose 41.21 points, or 1.34 percent, closing at 3,116.27. This marked a solid day for the South Korean stock market. Trade volume reached 527.53 million shares, valued at 14.68 trillion won, or $10.79 billion.
Foreign and institutional investors were net buyers throughout the day. Foreigners purchased 632.39 billion won, while institutions bought 561.11 billion won. Individual investors, however, offloaded 1.23 trillion won in shares.
The market opened higher after gains on Wall Street. That momentum continued as positive news came in during the day.
One key factor was the U.S. decision to impose a lower-than-expected 20 percent tariff on several Vietnamese exports. This matters to the South Korean stock market because companies like Samsung and LG rely on Vietnamese production lines.
Meanwhile, investors monitored progress in South Korea’s trade talks with the United States. The negotiation deadline is July 8, prompting urgency in diplomatic efforts. Trade Minister Yeo Han-koo is scheduled to visit Washington later this week for final discussions.
Additionally, lawmakers in Seoul passed a revision of the Commercial Act. This move expands corporate directors’ fiduciary duty to shareholders. The reform aims to enhance minority shareholder rights, improving market transparency.
Major tech and steel stocks led the rally. Samsung Electronics climbed 2.22 percent to 62,150 won. LG Energy Solution jumped 2.23 percent, closing at 309,250 won.
Steel stocks soared, too. POSCO Holdings spiked 9.72 percent, ending at 316,000 won. Hyundai Steel surged 16.18 percent to 35,550 won.
Biotech giant Samsung Biologics inched up 0.59 percent. KB Financial rose 0.97 percent, while Doosan Enerbility added 2.27 percent.
Defense firm Hanwha Aerospace edged up 0.24 percent. However, automakers slipped. Hyundai Motor fell 0.47 percent, and Kia dropped 0.6 percent.
In tech, Naver increased 0.99 percent, and Kakao advanced 2.39 percent.
The won weakened slightly against the dollar. The local currency finished at 1,359.4 won per U.S. dollar, down 0.7 won from the previous session.
Overall, the South Korean stock market reflected optimism around trade diplomacy and stronger protections for investors.
