Home > Business > Economy

Kospi opens flat amid U.S. tariff caution

Published: 28 Jul. 2025, 11:15

A 3-D printed miniature model of U.S. President Donald Trump is pictured with the Korean flag and the word ″Tariffs″ in this illustration taken on July 23. [REUTERS/YONHAP]

Korean stocks opened nearly unchanged Monday, despite strong gains by tech giant Samsung Electronics, as investors await a potential deal in high-stakes tariff talks with the United States, with just days remaining before the negotiation deadline.

The benchmark Korea Composite Stock Price Index (Kospi) rose 0.89 points, or 0.03 percent, to 3,196.94 in the first 15 minutes of trading.

Last-minute negotiations are underway between Seoul and Washington to reach a deal on U.S. President Donald Trump's administration's aggressive tariff scheme before the Aug. 1 deadline.

Finance Minister Koo Yun-cheol is likely to meet with Treasury Secretary Scott Bessent on Thursday after their talks, initially planned for the weekend alongside their industry ministers, were abruptly postponed due to a scheduling conflict on Bessent's part.

Top-cap shares traded mixed.

Market bellwether Samsung Electronics surged 2.58 percent after announcing it has signed a contract worth $16.5 billion won to supply semiconductors to a major global company.

But chip giant SK hynix fell 1.5 percent.

Leading battery maker LG Energy Solution soared 4.26 percent, and chemical giant LG Chem advanced 1.3 percent.

Carmakers opened higher. Top automaker Hyundai Motor climbed 1.04 percent, and its sister affiliate Kia increased 0.86 percent.

But defense giant Hanwha Aerospace shed 0.32 percent, and leading financial firm KB Financial sank 3.54 percent.

Top online portal operator Naver lost 0.64 percent, and leading steelmaker Posco dived 0.9 percent.

The local currency was trading at 1,378.55 won against the dollar at 9:15 a.m., up 0.05 percent from the previous session's quote of 1,377.9 won.

Yonhap