South Korea's KOSPI jumps 6% after Samsung reaches tentative deal with union

LG Energy Solution

21/05/2026 02:54

KOSPI rises, foreigners net sellers

Korean won weakens against dollar

South Korea benchmark bond yield falls

SEOUL, May 21 (Reuters) - Round-up of South Korean financial markets:

     ** South Korean shares climbed more than 6% on Thursday as investors cheered Samsung Electronics' tentative deal with its union on bonus payouts, averting a strike. The won weakened, while the benchmark bond yield fell.

     ** The benchmark KOSPI .KS11 was up 476.46 points, or 6.61%, at 7,685.41, as of 0134 GMT.

     ** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 6.70%, while peer SK Hynix 000660.KS gained 9.34%. Battery maker LG Energy Solution 373220.KS climbed 3.25%.

** Shares of Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 7.09% and 9.50%, respectively. Steelmaker POSCO Holdings 005490.KS added 4.68%, while drugmaker Samsung BioLogics 207940.KS rose 4.11%.

** Samsung Electronics' 005930.KS union said the planned 18-day strike by nearly 48,000 members would be suspended while the tentative 11th-hour deal is put to a vote between May 22 and May 27. The pay deal would potentially avert a strike that threatened to hit South Korea's economy and global chip supply.

** Lifting market sentiment, early data showed on Thursday that South Korea's exports in the first 20 days of May jumped 64.8% from a year earlier.

** South Korea will extend a fuel tax break by two months until the end of July, the Yonhap news agency reported on Thursday, citing the finance ministry.

     ** Of the total 917 traded issues, 783 shares advanced, while 119 declined.

     ** Foreigners were net sellers of shares worth 451.7 billion won.

     ** The won was quoted at 1,500.4 per dollar on the onshore settlement platform KRW=KFTC, 0.25% lower than its previous close at 1,496.7.

     ** The KOSPI has risen 82.37% so far this year.

     ** The won has weakened 4.1% against the dollar so far this year.

     ** In money and debt markets, June futures on three-year treasury bonds KTBc1 gained 0.09 point to 103.27.

     ** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 2.5 basis points to 3.733%, while the benchmark 10-year yield KR10YT=RR fell by 4.5 basis points to 4.153%.

 (Reporting by Cynthia Kim; Editing by Sherry Jacob-Phillips)

 ((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))