Seoul shares rise nearly 1% over S. Korea-US tariff negotiations

South Korean stocks finished nearly 1 percent higher Friday, as investors assessed the outcome of the first round of tariff talks between Seoul and Washington. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 23.97 points, or 0.95 percent, to close at 2,546.3. Trade volume was thin at 386.27 million shares worth 8.2 trillion won ($5.78 billion), with winners beating losers 645 to 238. Institutions and foreign investors combined purchased a net 721.5 billion won worth of stocks, while individuals sold a net 773 billion won worth of shares. During the first round of tariff talks held in Washington on Thursday, South Korea and the United States agreed to pursue a tariff deal before the pause on the implementation of reciprocal tariffs is lifted in early July. Tech shares led the overall gains, with SK hynix jumping 3.42 percent to 184,400 won and LG Electronics adding 1.85 percent to end at 71,600 won. Market cap Samsung Electronics remained unchanged at 55,700 won. Shipbuilders also advanced, with HD Hyundai Heavy Industries soaring 7.18 percent and Hanwha Ocean climbing 11.12 percent, on prospects of securing US deals amid an expected visit by US Secretary of the Navy John Phelan in South Korea next week. Leading battery maker LG Energy Solution also increased 0.59 percent to 343,500 won, and No. 1 steelmaker POSCO Holdings went up 1.17 percent to 260,000 won. In contrast, carmakers lost ground. Top automaker Hyundai Motor edged down 0.05 percent to 188,800 won, and its affiliate Kia lost 0.68 percent to end at 88,200 won. The local currency was trading at 1,436.5 won against the US dollar at 3:30 p.m., down 1.5 won from the previous session. (Yonhap)

Seoul shares open higher amid US tariff optimism

South Korean stocks opened markedly higher Friday, tracking Wall Street gains, after South Korea and the United States agreed to craft a package of deals on the US' new tariff scheme by July. The benchmark Korea Composite Stock Price Index rose 19.53 points, or 0.77 percent, to 2,541.86 in the first 15 minutes of trading. Investors closely watched the first round of trade talks between South Korea and the US held in Washington on Thursday, where the two sides agreed to pursue a tariff deal before the pause on the implementation of reciprocal tariffs is lifted in early July. Overnight, US shares surged as investors reacted to earnings reports from major companies and awaited developments on tariffs. The Dow Jones Industrial Average surged 1.23 percent and the tech-heavy Nasdaq composite jumped 2.74 percent. In Seoul, big-cap tech shares opened higher to lead the upturn of the index. Market bellwether Samsung Electronics rose 0.45 percent, and chip giant SK hynix surged 2.3 percent. Leading battery maker LG Energy Solution advanced 0.73 percent, and No. 1 steelmaker POSCO Holdings increased 1.07 percent. Leading shipbuilder HD Hyundai Heavy spiked 7.45 percent, and its rival Hanwha Ocean soared 5.93 percent. Carmakers opened mixed. Top automaker Hyundai Motor edged up 0.11 percent, while its sister affiliate Kia lost 0.56 percent. The local currency was trading at 1,432.1 won against the US dollar at 9:15 a.m., up 2.9 won from the previous session. (Yonhap)

Seoul shares end lower ahead of US tariff talks

South Korean stocks finished a tad lower Thursday as investors awaited tariff talks with the United States amid deepening concerns over economic growth. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 3.23 points, or 0.13 percent, to close at 2,522.33. Trade volume was slim at 323.69 million shares worth 7.22 trillion won ($5.03 billion), with losers beating winners 457 to 403. Institutions and foreign investors shed a net 198.44 billion won and 7.41 billion won worth of stocks, respectively, while individuals bought 134.89 billion won worth of shares. The index opened a tad lower, despite Wall Street gains, and had moved within a tight range before ending with a modest decline. Investor sentiment was dented after government data showed that gross domestic product (GDP) unexpectedly contracted 0.2 percent in the first quarter versus the prior quarter amid a domestic political crisis and uncertainties stemming from the Donald Trump administration's sweeping tariff scheme. Eyes are on the tariff talks to be held in Washington later in the day, following the US' announcement of a 90-day pause on the 25 percent reciprocal tariffs on South Korean imports. Industry Minister Ahn Duk-geun has said that the government will seek "a swift solution" over the US' auto tariffs and have consultations over trade, shipbuilding and energy cooperation, among other issues, with the US side "in a calm and prudent manner." Tech shares lost ground to draw down the index. Tech giant Samsung Electronics finished unchanged at 55,700 won, while its rival SK hynix dived 1.49 percent to 178,300 won. Major battery maker LG Energy Solution dipped 2.15 percent to 341,500 won, and leading steelmaker POSCO Holdings declined 1.15 percent to 257,000 won. Leading biotech firm Samsung Biologics fell 1.88 percent to 1.05 million won, and major pharmaceutical firm Celltrion lost 0.81 percent to 158,600 won. Industry leader Hyundai Motor went down 0.58 percent to 188,900 won, and its sister Kia slid 1.33 percent to 88,800 won. Leading financial group KB Financial Group decreased 0.47 percent to 84,600 won, and top online portal operator Naver shed 0.73 percent to 191,500 won. But major defense firm Hanwha Aerospace rose 1.23 percent to 824,000 won and leading shipbuilder HD Hyundai Heavy advanced 2.45 percent to 376,000 won. The local currency was quoted at 1,435 won against the greenback at 3:30 p.m., down 14.4 won from the previous session. (Yonhap)

Seoul shares open lower ahead of tariff talks with US

South Korean stocks opened a tad lower Thursday, despite Wall Street gains, as investors await tariff talks with the United States. The benchmark Korea Composite Stock Price Index fell 2.47 points, or 0.1 percent, to 2,523.09 in the first 15 minutes of trading. South Korea and the US were to hold tariff talks in Washington later in the day, after the Donald Trump administration put on hold the implementation of 25 percent reciprocal tariffs on South Korean imports for 90 days. Overnight, US shares surged after Trump said his government is going to have "a fair deal with China," and Beijing may receive a new tariff rate in a few weeks, according to foreign media reports. The Dow Jones Industrial Average surged 1.07 percent and the tech-heavy Nasdaq composite jumped 2.5 percent. Top-cap shares opened mixed. Market bellwether Samsung Electronics fell 0.18 percent, and chip giant SK hynix edged down 0.06 percent. Leading battery maker LG Energy Solution opened unchanged, and No. 1 steelmaker POSCO Holdings shed 0.58 percent. Leading biotech firm Samsung Biologics sank 2.35 percent, and major pharmaceutical Celltrion dipped 0.5 percent. But carmakers opened higher. Top automaker Hyundai Motor rose 0.11 percent, and its sister affiliate Kia went up 0.44 percent. Major defense firm Hanwha Aerospace rose 0.74 percent and leading shipbuilder HD Hyundai Heavy advanced 0.95 percent. The local currency was trading at 1,427.55 won against the US dollar at 9:15 a.m., down 6.95 won from the previous session. (Yonhap)

Seoul shares rise to 1-month high amid tariff optimism

South Korean stocks rose to the highest level in about a month Wednesday as investors harbored expectations for upcoming tariff talks with the United States, as well as for easing Sino-US trade tensions. The local currency remained flat against the US dollar. The benchmark Korea Composite Stock Price Index added 38.92 points, or 1.57 percent, to close at 2,525.56, which was the highest level since March 28, when the index finished at 2,557.98. Trade volume was moderate at 529.94 million shares worth 7.67 trillion won ($5.39 billion), with winners beating losers 627 to 254. Institutions purchased a net 686.07 billion won worth of stocks, while individuals and foreigners shed 549 billion won and 196.71 billion won worth of shares, respectively. The index opened markedly higher, tracking Wall Street gains, and had maintained the momentum throughout the session. Investors welcomed the news that US Treasury Secretary Scott Bessent said he expected the trade war with China to de-escalate and a deal would be reached. Eyes are also on the tariff talks to be held in Washington on Thursday, following the Donald Trump administration's announcement of a 90-day pause on the 25 percent reciprocal tariffs on South Korean imports. Industry Minister Ahn Duk-geun told reporters upon heading for Washington that the country will seek "a swift solution" over auto tariffs, and have consultations over trade, shipbuilding and energy cooperation, among other issues, "in a calm and prudent manner." Tech shares led the upturn of the index. Tech giant Samsung Electronics rose 1.27 percent to 55,700 won, and its rival SK hynix surged 4.14 percent to 181,000 won. Major battery maker LG Energy Solution spiked 5.12 percent to 349,000 won, and leading steelmaker POSCO Holdings climbed 3.17 percent to 260,000 won. Industry leader Hyundai Motor advanced 2.37 percent to 190,000 won, and its sister Kia soared 3.69 percent to 90,000 won. But leading biotech firm Samsung Biologics fell 0.84 percent to 1.06 million won, and top online portal operator Naver shed 0.41 percent to 192,900 won. The local currency was quoted at 1,420.6 won against the greenback at 3:30 p.m., unchanged from the previous session. (Yonhap)

Seoul shares open higher on hopes for eased Sino-US trade tensions

South Korean stocks got off to a strong start Wednesday, tracking Wall Street gains, amid hopes for easing tariff tensions between the United States and China. The benchmark Korea Composite Stock Price Index rose 27.38 points, or 1.1 percent, to 2,514.02 in the first 15 minutes of trading. Overnight, US shares surged after US Treasury Secretary Scott Bessent said he expected the trade war with China to de-escalate and a deal would be reached, according to foreign media reports. Investors also welcomed the news that US President Donald Trump said he is not planning to fire Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average surged 2.66 percent and the tech-heavy Nasdaq composite jumped 2.71 percent. South Korea was to hold tariff talks with the US in Washington on Thursday. The Trump administration put on hold the implementation of 25 percent reciprocal tariffs on South Korean imports for 90 days. Market bellwether Samsung Electronics advanced 1.45 percent, and chip giant SK hynix spiked 2.93 percent. Leading battery maker LG Energy Solution soared 3.46 percent, and No. 1 steelmaker POSCO Holdings went up 1.79 percent. Top automaker Hyundai Motor advanced 1.35 percent, and its sister affiliate Kia grew 1.5 percent. But leading biotech firm Samsung Biologics sank 2.14 percent. The local currency was trading at 1,427.05 won against the US dollar at 9:15 a.m., down 6.45 won from the previous session. (Yonhap)

Seoul shares rise for 3rd day; tariff talks in focus

South Korean stocks finished slightly higher Monday as investors await upcoming tariff negotiations with the United States. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 5.0 points, or 0.2 percent, to close at 2,488.42, extending its winning streak to a third session. Trade volume was slim at 423.58 million shares worth 5.18 trillion won ($3.66 billion), with winners beating losers 499 to 370. Individuals and institutions purchased a net 185.52 billion won and 23.79 billion won worth of shares, respectively, while foreigners sold a net 288.35 billion won worth of stocks. The index opened a tad lower and had moved within a tight range throughout the session. Eyes are on the tariff talks to be held in Washington on Thursday, following the Donald Trump administration's announcement of a 90-day pause on the 25 percent reciprocal tariffs on South Korean imports. South Korea is among the first nations to sit down with the US for the crucial negotiations, with Japan having begun its talks last week. Acting President Han Duck-soo acknowledged that the talks "will not be easy," vowing to make all-out efforts to find "a mutually beneficial solution." Wall Street was closed on Friday in observance of the Christian holiday, Good Friday. Tech shares led the upturn of the index. Tech giant Samsung Electronics added 0.18 percent to 55,400 won, and its rival SK hynix advanced 0.91 percent to 176,600 won. Leading biotech firm Samsung Biologics soared 2.19 percent to 1.07 million won. But major battery maker LG Energy Solution lost 1.63 percent to 332,500 won. Industry leader Hyundai Motor edged up 0.05 percent to 187,300 won, and its sister Kia increased 0.8 percent to 88,000 won. Top online portal operator Naver finished unchanged at 187,500 won, while leading steelmaker POSCO Holdings went down 0.79 percent to 251,000 won. The local currency was quoted at 1,419.1 won against the greenback at 3:30 p.m., up 4.2 won from the previous session. (Yonhap)

New alliances: Hyundai, Posco team up on steel, batteries to tackle US tariffs

Decadeslong rivals partner up for 1st time overseas to brush off tariff woes in US Hyundai Motor Group and Posco Group, longtime industry rivals, have joined forces in a strategic alliance abroad, specifically in the US, a key market pressured by steep 25 percent tariffs on steel and automobiles. Hyundai Motor said Monday that it aims to create synergy with the steelmaker by securing a supply chain for key raw materials for electric vehicle batteries. Meanwhile, Posco seeks to create a foothold in the North American market, where the auto giant plans to set up a new auto steel facility. Earlier in the day, executives from both companies, including Han Seok-won, head of the planning and coordination division at Hyundai Motor Group and Lee Joo-tae, head of the future strategy division at Posco Holdings, attended the signing ceremony for the partnership agreement at Hyundai Motor Group’s Seoul headquarters in Gangnam. As part of the steel alliance, Posco Group is considering investing a stake in Hyundai Steel, Hyundai Motor’s steel manufacturing arm’s electric arc furnace manufacturing plant in Louisiana and exploring ways to directly sell the partial production volume. The $5.8 billion facility, set to start commercial operations by 2029, has the annual capacity to manufacture 2.7 million metric tons of hot and cold-rolled auto steel sheets. Posco intends to leverage the strategic location of the production base -- which is near Hyundai Motor’s Alabama plant, Kia’s Georgia plant and the newly opened Hyundai Motor Group Metaplant America in Georgia -- to supply Hyundai, Kia and other US automakers. Aiming to sell over 3.26 million battery-powered vehicles annually by 2030, Hyundai Motor plans to secure key rechargeable battery supply chains in partnership with Posco. The steelmaker’s subsidiaries, including Posco International and Posco Future M, produce lithium hydroxide and anode and cathode materials for EV batteries by sourcing lithium resources through ownership and equity investments in overseas salt lakes and mines. Hyundai Motor stressed the importance of establishing a stable and diversified supply chain for battery raw materials amid the escalating geopolitical risks -- volatile trade policies and supply chain restructuring in the US, EU and other regions. “Through the strategic partnership with Posco Group, we will expand business opportunities in global markets, including the US, while solidifying the foundation for sustainable growth and leadership in electrification within the future mobility sector,” stated a Hyundai Motor Group official. The carmaker also hinted at an R&D partnership for next-generation battery materials. While it did not disclose specifics, it was reported that Hyundai Motor, which has set up a pilot production line for all-solid-state batteries, is considering sourcing the battery materials from Posco. Experts say that the unprecedented alliance between Posco and Hyundai Steel, South Korea’s top 1 and 2 steelmakers, signals an all-hands-on-deck response to counteract the 25 percent tariffs imposed by US President Donald Trump. “This partnership marks a significant shift from the traditional competition between the two companies,” said Kim De-jong, a business professor at Sejong University. “Although Posco has held a stronger foothold in the steel industry, its willingness to work with Hyundai Steel shows that desperate times call for desperate measures. Joining hands with its rivals is ironically the only viable option for Korean companies to improve the cost efficiency of relocating their production facilities to the US.” Notably, Posco, which operates two steel processing sites in Alabama and Indiana, has long mulled over constructing a steel mill that handles upstream processes from melting raw steel to producing intermediate products in the US. Its previous plan for a hot and cold-rolled plant in Alabama was scrapped due to high labor costs. For Hyundai Steel, Posco’s stake investment is a lifeline as it faces cost pressures from the Louisiana project. Considering that Hyundai Steel’s cash and cash equivalents were approximately 1.3 trillion won ($917 million) at the end of last year, the company would be allocating nearly all of its cash reserves to this Louisiana project, which reportedly requires 1 trillion - 2 trillion won from the steelmaker. To secure funding for the US base, it recently began negotiations with Dongkuk Steel, Korea’s third-largest steel manufacturer, to sell off Hyundai IFC, its steel forging subsidiary.

Seoul shares open tad higher amid tariff woes

South Korean stocks opened slightly higher on Monday as the country is set for negotiations with the United States over the sweeping tariff scheme. The benchmark Korea Composite Stock Price Index rose 5.61 points, or 0.23 percent, to 2,489.03 in the first 15 minutes of trading. Seoul's industry ministry said Sunday that the government plans to kick-start tariff negotiations with the Donald Trump administration later this week in Washington. South Korea was slapped with 25 percent reciprocal tariffs, though the US paused its implementation for 90 days. Market bellwether Samsung Electronics climbed 0.36 percent, and chip giant SK hynix added 0.51 percent. Top biotech firm Samsung Biologics rose 0.38 percent, while leading battery maker LG Energy Solution lost 0.74 percent. Top automaker Hyundai Motor advanced 0.64 percent, and its sister affiliate Kia grew 1.26 percent. No. 1 portal operator Naver soared 1.44 percent, while leading steelmaker POSCO Holdings decreased 0.59 percent. The local currency was trading at 1,418.85 won against the US dollar at 9:15 a.m., up 4.45 won from the previous session. (Yonhap)

Alaska governor, DOE official call for stronger Korea-US LNG cooperation

AmCham forum highlights Trump's US LNG push ahead of tariff talks with Korea The governor of Alaska signaled the state’s interest in partnering with South Korea on liquefied natural gas development and reaffirmed its commitment to long-term energy cooperation at a forum hosted by the American Chamber of Commerce in Korea on Friday. Speaking via video at the event held under the theme, “A New Era of Korea-US Cooperation in the Energy Sector,” Alaska Gov. Mike Dunleavy championed his openness to business regarding the Alaska LNG project, which could foster sustainable energy partnerships between the US and Korea, according to him. “For our Asian allies, Alaska energy offers more than just a stable supply -- it offers proximity, predictability and partnership,” he said. “We’re not just exporting gas, but we’re strengthening our ties.” The Alaska LNG project is emerging as a key issue in Korea-US tariff talks, as Trump has pushed for "one-stop shopping," or a deal linking trade and security. The Trump administration is seeking Korean investment in the $44 billion project in exchange for long-term LNG supply and possible tariff relief. Dunleavy visited Korea less than a month ago in late March, meeting with acting President Han Duck-soo and Industry Minister Ahn Duk-geun to discuss potential cooperation on the Alaska LNG project. But the Korean government has reportedly yet to receive sufficient details to assess the project's feasibility properly. Tommy Joyce, acting assistant secretary for international affairs at the US Department of Energy, also delivered a video address calling the energy partnership a key force underpinning global energy progress. “South Korea is one of America’s most vital energy allies,” Joyce said. “As we unleash a new era of energy abundance, this partnership will be essential to strengthening global energy security, building resilient supply chains and expanding access to affordable, reliable energy across the Indo-Pacific.” Underscoring existing Korean investment in US energy, the DOE official referenced Hanwha Group’s June 2024 acquisition of a 15 percent stake in LNG company NextDecade and Posco Holdings’ interest in gas reserve assets. At the forum, AmCham Chairman and CEO James Kim called energy “one of the most strategic pillars of US-Korea cooperation,” and highlighted a unique opportunity for both nations to lead the global transition toward clean, secure and sustainable energy. “Korea’s support of US LNG gas will be extremely helpful in both reducing the trade deficit and enhancing the overall relationship with the United States,” Kim said. On the Korean side, Industry Minister Ahn Duk-geun pointed to surging global energy demand, driven by the rapid growth of artificial intelligence and advanced manufacturing. “It has become more critical than ever to develop energy policies that support the establishment of a resilient and secure energy supply system,” Ahn said. “Given Korea’s significant reliance on energy imports, it is essential to strengthen close cooperation with key partners, including the US.” Eekno Jo, director general for the energy policy bureau at the Ministry of Trade, Industry and Energy, delivered a keynote speech outlining Korea’s energy policy road map, with a focus on energy transition and sustainable development. As the event progressed, three main presentations offered in-depth insights into energy security, clean energy innovation and cross-border investment. Ryan Russell, foreign attorney at Kim & Chang, shed light on Korea’s evolving energy framework, noting that policymakers are now working to address the “energy trilemma” -- the challenge of balancing energy security, sustainability and affordability. Choe Seung-ho, CEO of Pacifico Energy Korea, spoke about the promise of offshore wind energy, while June Choi, Country Head of Korea at Bloom Energy, shared insights on the role of sustainable power systems in supporting the rapid growth of artificial intelligence.