South Korean shares notch record close as chipmakers resume rally

LG Energy Solution

13/05/2026 08:15

KOSPI turns higher after falling more than 3%

Samsung Electronics, SK Hynix resume rally

Worries ease over Samsung strike, 'citizen dividends'

SEOUL, May 13 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose more than 2% to notch a record close on Wednesday, as chipmakers resumed a rally after sharp losses in the previous session on profit-taking pressure.

** The benchmark KOSPI .KS11 ended the session up 200.86 points, or 2.63%, at 7,844.01, its highest closing level on record. On Tuesday, it fell 2.3%.

** Earlier in the session, the index fell as much as 3.15% before turning higher on a rebound in chipmakers.

** Chipmaker Samsung Electronics 005930.KS rose 1.79%, as the country's prime minister urged government support to avert a strike amid stalled wage negotiations between the company and its union. Peer SK Hynix 000660.KS gained 7.68%.

** "The KOSPI turned higher as internal risks eased while optimism grew ahead of a U.S.-China summit meeting," said Lee Kyoung-min, an analyst at Daishin Securities.

** "Controversies over 'citizen dividends' also calmed after it was played down as a personal opinion," Lee said.

** President Donald Trump said he would urge China's Xi Jinping to "open up" to U.S. business on his way to a summit in Beijing on Wednesday, as his top trade negotiator Scott Bessent held talks with Chinese officials in South Korea aimed at maintaining their trade deal.

** On Tuesday, South Korean Presidential policy adviser Kim Yong-beom floated an idea of "citizen dividends", as he argued in a social media post that excess earnings in the era of AI should be redistributed to all citizens.

** Of the total 900 traded issues, 281 shares advanced, while 602 declined.

** Foreigners were net sellers of shares worth 3.7 trillion won ($2.49 billion).

** The won was quoted at 1,490.6 per dollar on the onshore settlement platform KRW=KFTC, 0.02% higher than its previous close at 1,490.9.

($1 = 1,488.4000 won)

 (Reporting by Jihoon Lee; Editing by Ronojoy Mazumdar)

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