Seoul shares extended losses to a third session Friday as parliament was set to vote on impeaching an acting president for the first time in the country's constitutional history and the Korean won is facing extreme volatile trading.
The Korean won weakened to the 1,480 won level for the first time since March 16, 2009, when the reading was quoted at 1,488 won in the aftermath of the global financial crisis.
The benchmark Korea Composite Stock Price Index shed 24.09 points, or 1.02 percent, to close at 2,404.77, after dipping to an intraday low of 2,388.33.
Trade volume was slim at 302 million shares worth 6.19 trillion won ($4.21 billion), with losers outnumbering gainers 803 to 115.
Foreigners sold a net 172.5 billion won, and individuals bought a net 214 billion won. Institutions offloaded a net 114 billion won.
The South Korean financial market has been facing downside risks following President Yoon Suk Yeol's short-lived martial law declaration earlier this month, which led to the passage of an impeachment motion against him.
The opposition-led National Assembly was also set to vote on a motion to impeach acting President Han Duck-soo later in the day, adding woes to the already murky political landscape.
"We maintain our cautious stance as the unfavorable environment is expected to continue for the time being," said Kim Ji-won, an analyst at KB Securities.
Korea Zinc plunged 15.75 percent to 1,027,000 won, and POSCO Holdings shed 0.98 percent to 253,500 won.
Carmakers finished bearish as well, with Hyundai Motor falling 1.15 percent to 215,000 won and its sister Kia moving down 1.94 percent to 100,900 won. Auto parts giant Hyundai Mobis decreased 2.27 percent to 236,500 won.
Top tech giant Samsung Electronics moved up 0.19 percent to 53,700 won, and No. 2 chipmaker SK hynix gained 2.59 percent to 174,000 won. LG Energy Solution advanced 1.02 percent to 348,000 won.
The local currency was quoted at 1,467.5 won against the US dollar at 3:30 p.m., down 2.7 won from the previous session, breaching the 1,460 won level for the second straight session.
Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 1.4 basis points to 2.634 percent and the return on the benchmark five-year government bonds lost 2.5 basis points to end at 2.784 percent. (Yonhap)
