SEOUL: South Korean stocks rose sharply on Thursday, climbing more than 1.6 percent as investors engaged in bargain hunting despite ongoing political uncertainties surrounding the potential impeachment of President Yoon Suk Yeol. The local currency also saw a slight increase against the U.S. dollar.According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) increased by 1.62 percent, or 39.61 points, closing at 2,482.12. The trading volume was moderate, with 651.7 million shares exchanged, valued at 11.86 trillion won (approximately US$8.3 billion). Advancing stocks outnumbered decliners, with 616 winners against 277 losers.Institutional investors were the primary drivers of the KOSPI's gains, purchasing a net 150.9 billion won in shares. In contrast, retail investors and foreigners sold off 244.5 billion won and 24.6 billion won worth of shares, respectively. "The KOSPI will see volatility on concerns over the political turmoil surrounding the impeachment motion against the p resident, but investors have moved to pick up bargains on beliefs that the recent decline in the stock market was excessive considering that the country's financial system and the economy remain solid," said Lee Kyoung-min, an analyst at Daishin Securities.The recent three-day upswing in the market followed a four-session losing streak that ended on Monday, triggered by President Yoon's unexpected martial law declaration on December 3. Blue chip technology stocks were a significant factor in the KOSPI's rise, following gains in the tech sector on Wall Street.Samsung Electronics, a tech giant, saw its shares rise 3.52 percent to 55,900 won, while SK hynix, a competitor in chip manufacturing, increased by 2.5 percent to 176,100 won. LG Energy Solution, a leading battery manufacturer, surged 7.01 percent to 404,500 won, and major chemical producer LG Chem gained 1.9 percent to 267,500 won.In the automotive sector, Hyundai Motor advanced 1.2 percent to 211,500 won, and Kia increased by 0.73 percent to 97,20 0 won. Financial stocks also showed strong performance, with KB Financial rising 1.87 percent to 87,000 won and Samsung Life Insurance climbing 2.36 percent to 103,900 won.Conversely, internet portal operator Naver fell 4.59 percent to 208,000 won, and Kakao, a key player in mobile messaging, decreased by 2.02 percent to 43,700 won due to profit taking. Korea Zinc, the world's largest zinc smelter, faced a 2.92 percent decline to 1.36 million won amid a management control battle.The local currency was trading at 1,431.9 won against the dollar at 3:30 p.m., marking a 0.3 won increase from the previous session. Meanwhile, bond prices fell, with the yield on three-year Treasurys rising 1.3 basis points to 2.549 percent and the return on the benchmark five-year government bonds increasing by 1.1 basis points to 2.628 percent.
- September 13, 2026
