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6d ago

South Korea Prepares for High-Stakes Tariff Talks with U.S.

KOSPI edges up 0.23% as South Korea readies for negotiations following a 90-day tariff suspension.

This file photo taken April 17, 2025, shows a dealing room of Hana Bank in Seoul. (Yonhap)
Finance Minister Choi Sang-mok (R) speaks with Industry Minister Ahn Duk-geun during an economic security task force meeting in Seoul on April 21, 2025. (Yonhap)
Officials work at a dealing room of Hana Bank in Seoul on April 21, 2025. (Yonhap)

Overview

  • The South Korean government will begin formal tariff negotiations with the Trump administration in Washington later this week.
  • The Korea Composite Stock Price Index (KOSPI) rose 0.23%, or 5.61 points, to 2,489.03 in early trading on Monday.
  • Major exporters like Samsung Electronics and SK hynix posted modest gains, while sector movements varied across biotech, automotive, and energy firms.
  • The South Korean won strengthened by 4.45 won against the U.S. dollar, reflecting cautious optimism in financial markets.
  • The negotiations follow a 90-day suspension of 25% reciprocal tariffs imposed by the U.S., adding pressure on South Korea to secure favorable terms.