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4mo ago

South Korean Stocks Climb to One-Month High as Trade Talks Near

Optimism grows over U.S.-China trade de-escalation and upcoming tariff negotiations between South Korea and the United States.

Officials work at a dealing room of Hana Bank in Seoul on April 23, 2025. (Yonhap)
Industry Minister Ahn Duk-geun (C) moves, along with ministry officials, at Incheon airport, west of Seoul, on April 23, 2025, before his departure for Washington to meet senior U.S. officials for high-level trade talks on the U.S.' new tariff scheme. (Yonhap)
This Reuters' file photo shows U.S. Commerce Secretary Howard Lutnick (R) and Secretary of the Treasury Scott Bessent (C) stand as President Donald Trump signs executive orders and proclamations in the Oval Office at the White House in Washington on April 9, 2025. (PHOTO NOT FOR SALE) (Yonhap)

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.