South Korean stocks traded sharply higher late Wednesday morning, buoyed by US President Donald Trump's conciliatory remarks on a trade deal, which eased investor worries over potential tariffs. The benchmark KOSPI index rose 1.43 percent, setting the stage for a new high.
On January 28, 2026, Seoul's stock market surged amid optimism over easing US-South Korea trade tensions. President Donald Trump, who had threatened the day before to raise reciprocal tariffs on South Korea from 15 percent to 25 percent, stated on Tuesday that his administration would 'work something out' with Seoul, reassuring investors.
As of 11:20 a.m., the benchmark Korea Composite Stock Price Index (KOSPI) had climbed 72.91 points, or 1.43 percent, to 5,157.76. Gains in semiconductors, autos, and biotech shares drove the rally. Samsung Electronics rose 1.5 percent, while rival SK hynix jumped 5.25 percent. Hyundai Motor added 1.13 percent, Celltrion gained 3.78 percent, and Hanwha Aerospace increased 2.76 percent. Decliners included HD Hyundai Heavy Industries, down 0.68 percent, and KB Financial, off 2.31 percent.
The market opened stronger, with the KOSPI up 83.87 points, or 1.65 percent, to 5,168.72 in the first 15 minutes, before a slight pullback. The Korean won traded at 1,431 against the US dollar at 11:24 a.m., strengthening 15.2 won from the prior close—improving from 1,433.5 won (up 12.7 won) at 9:15 a.m. Hanwha Aerospace's 3.74 percent gain early in the session followed reports of a $1.9 billion rocket deal with Norway. Overnight US gains, with the S&P 500 up 0.41 percent and Nasdaq rising 0.91 percent, also supported sentiment. Experts view Trump's comments as aimed at accelerating South Korean investments in the US.
