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Kospi slips, won remains at 15-year low ahead of impeachment vote

Published: 27 Dec. 2024, 10:10

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Thursday. [YONHAP]

Shares started weaker Friday as the parliament is set to vote on an impeachment motion against acting President Han Duck-soo later in the day.

The Korean won also continued to trade at its lowest level in more than 15 years.

The benchmark Kospi lost 15.85 points, or 0.65 percent, to 2,413.82 in the first 15 minutes of trading.

It marks the first time in Korea's constitutional history that an impeachment motion against an acting president has been put to a vote in the National Assembly.

Hyundai Motor fell 0.46 percent and Kia lost 1.75 percent. Hyundai Mobis shed 0.21 percent.

Financial firms also opened weaker, with KB Financial moving down 0.35 percent and Shinhan Financial decreasing 0.61 percent.

Tech shares opened mixed, with Samsung Electronics falling 0.19 percent while No. 2 chipmaker SK hynix gained 1.65 percent.

The local currency was trading at 1,469.6 won against the greenback at 9:15 a.m., up 4.8 won from the previous session.

Yonhap