Overview
- The Korea Composite Stock Price Index (KOSPI) closed at 2,525.56 on April 23, its highest level since March 28, driven by trade optimism.
- U.S. Treasury Secretary Scott Bessent expressed expectations for de-escalation in the U.S.-China trade war and a potential deal.
- South Korea is set to begin formal tariff negotiations in Washington under a 90-day moratorium on reciprocal tariffs imposed by the Trump administration.
- Major South Korean exporters, including Samsung Electronics, SK hynix, and Hyundai Motor, posted gains, while Samsung Biologics saw a slight decline.
- Industry Minister Ahn Duk-geun emphasized the need for a swift resolution on auto tariffs and plans to discuss broader trade and energy cooperation during the talks.