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Kospi slumps, won tumbles past 1,410 on tariff concerns

Published: 26 Sep. 2025, 10:03

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Sept. 26. [YONHAP]

Shares started lower Friday on escalating concerns over protracted tariff negotiations with the United States as the won sharply depreciated against the dollar.

The Kospi lost 32.73 points, or 0.94 percent, to 3,438.38 in the first 15 minutes of trading.

The local currency was quoted at 1,410.5 won against the greenback as of 9:15 a.m., up 0.71 percent from the previous session of 1,400.6 won.

Overnight, U.S. President Donald Trump called South Korea's $350 billion investment commitment "up front" amid the ongoing Seoul-Washington negotiations for details of investment packages following their initial agreement in August.

U.S. stocks fell for the third day Thursday as the market lost momentum after record high rallies earlier in the week. The Dow Jones dropped 0.38 percent, and the Nasdaq decreased 0.5 percent.

In Seoul, large-cap shares led the early decline.

Market bellwether Samsung Electronics dipped 1.63 percent, and its chipmaking rival SK hynix slipped 2.81 percent.

Leading battery maker LG Energy Solution lost 1.52 percent, and top carmaker Hyundai Motor skidded 0.83 percent.

Pharmaceutical giant Samsung Biologics retreated 1.57 percent, and Kakao, a leading IT firm, sank 2.85 percent.

BY PARK EUN-JEE, YONHAP [[email protected]]