Seoul: South Korean stocks traded higher late Monday morning, as investors looked to developments of last week's tariff talks with the United States. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.07 points, or 0.28 percent, to 2,553.37 as of 11:20 a.m. The index opened a tad higher, and had managed to maintain the momentum on institutional buying.
According to Yonhap News Agency, during the first round of tariff talks held in Washington on Thursday, South Korea and the U.S. agreed to make joint efforts to craft a "package" deal on new U.S. tariffs and economic cooperation issues by July 8, when the 90-day pause of the Donald Trump administration's sweeping tariffs is set to be lifted. Working-level talks will be kicked off this week for setting details.