SEOUL: South Korean shares saw a significant decline of more than 1 percent on Monday, driven by Samsung Electronics' fall to a two-year low amid rising uncertainties over trade policies under the new Trump administration. The local currency also weakened sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) decreased by 29.49 points, or 1.15 percent, closing at 2,531.66, following a minor decline of 0.14 percent on Friday.According to Yonhap News Agency, the trading volume was substantial with 565.2 million shares exchanged, amounting to 11.1 trillion won (approximately US$7.96 billion). The market saw a significant imbalance, with 726 stocks declining compared to 186 advancing. Foreign investors offloaded a net 537.8 billion won worth of local equities, while institutions sold a net 237 billion won, counterbalancing the net purchase of 736.1 billion won by individual investors.Offshore investors notably continued their selling spree of Samsung Electronics, a leading pl ayer in the memory chip sector, for nine consecutive sessions starting from October 30. This followed a previous extended selling period from September 3 to October 25, during which they sold a net 12.9 trillion won. Concerns have been mounting over Samsung's performance amid strong demand for AI chips and potential shifts in trade and economic policies under the incoming Trump administration.Samsung Electronics dropped by 3.51 percent to 55,000 won, marking its lowest close since September 30, 2022. Other semiconductor companies were similarly affected, with SK hynix declining by 3.94 percent to 192,600 won and Hanmi Semiconductor falling 6.48 percent to 88,100 won.In the retail sector, Lotte Shopping saw a decrease of 2.37 percent to 61,700 won, and Shinsegae fell by 3.25 percent to 136,900 won. Nongshim, a major food company, slid 3.16 percent to 353,000 won, while Hotel Shilla, part of the Samsung Group, decreased by 2.88 percent to 38,800 won.Despite the broader market downturn, LG Energy Solution experienced a rise of 4.39 percent to 416,000 won, boosted by reports that it will supply cylindrical batteries to Space X. Hyundai Motor also saw gains, rising 3.69 percent to 211,000 won, with its affiliate Kia increasing by 1.72 percent to 94,600 won.The local currency was trading at 1,394.7 won against the U.S. dollar at 3:30 p.m., a decrease of 8.3 won from the prior session.
- October 12, 2026
