The benchmark KOSPI rose 0.6% to around 4,110 on Friday, hitting fresh record levels, boosted by gains in automakers and chip giant Samsung Electronics. The index is also on track for its fifth straight weekly gain and a nearly 20% increase for the month. Carmaker Hyundai Motors led the charge, climbing over 6% to a three-month high, while its sister-company Kia Corp surged 2.6%, following news that the Korea-US trade deal was finalized to lower tariffs on auto exports to 15%. Shipbuilding stocks also advanced, as the trade deal highlighted shipbuilding and energy as major areas of South Korea’s planned investment in the US. Additionally, chip heavyweight Samsung Electronics jumped 0.8% to a new record-high, while its peer SK Hynix dropped 1.1%. Investor optimism was supported by corporate developments, as leaders from US tech giant Nvidia, Samsung, and Hyundai met in Seoul ahead of a planned announcement on their AI business cooperation.
