South Korean shares end 8% higher as Samsung hits record on pay deal

LG Energy Solution

21/05/2026 07:58

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 rose 8% on Thursday, with Samsung Electronics hitting a record high after a pay deal with its labour union averted a strike, easing concerns over potential disruption to the country's economy and global chip supply.

** The benchmark KOSPI .KS11 closed up 606.64 points, or 8.42%, at 7,815.59, marking its highest closing level since May 14 and biggest one-day gain since April 1.

** Samsung Electronics 005930.KS rose 8.51% to notch a record close, after the chipmaker clinched an 11th-hour deal with its South Korean union, although the terms which included bonuses of around $416,000 for some workers gave rise to some concern.

** Shares of peer SK Hynix 000660.KS gained 11.17%.

** "Investor sentiment around the chip sector improved after Nvidia's earnings surprise suggested a possibility of a stronger artificial intelligence cycle," said Lee Kyoung-min, an analyst at Daishin Securities.

** Nvidia NVDA.O CEO Jensen Huang on Wednesday aimed to assure investors that the world's most valuable company can keep up its blockbuster growth with the help of a broad base of customers and that new products will help it beat the $1 trillion in sales it has forecast for its flagship AI chips.

** Among other index heavyweights, battery maker LG Energy Solution 373220.KS climbed 4.29%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 12.50% and 12.38%, respectively.

** Steelmaker POSCO Holdings 005490.KS added 6.35%, while drugmaker Samsung BioLogics 207940.KS rose 4.34%.

** Of the total 917 traded issues, 669 shares advanced, while 221 declined.

** Foreigners were net sellers of shares worth 243.4 billion won ($161.66 million).

** The won was quoted at 1,506.1 per dollar on the onshore settlement platform KRW=KFTC, 0.62% lower than its previous close at 1,496.7.

** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 0.8 basis point to 3.750%, while the benchmark 10-year yield KR10YT=RR fell by 4.0 basis points to 4.158%.

   ($1 = 1,505.6000 won)

 (Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips)

 ((jihoon.lee@thomsonreuters.com;))