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Kospi opens higher as Trump delays tariff imposition on first day in office

Published: 21 Jan. 2025, 10:38

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

Shares got off to a strong start Tuesday as new U.S. President Donald Trump has not immediately imposed tariffs on his first day in office.

The Kospi added 25.16 points, or 1 percent, to 2,545.21 in the first 15 minutes of trading.

Trump started his second term Monday, vowing for his "America First" policy on immigration, tariffs and energy.

However, he held off on immediate tariffs during his first day while signing an order to withdraw the United States from the Paris climate agreement.

In Seoul, most shares opened higher.

Samsung Electronics rose 1.31 percent, and SK hynix jumped 3.3 percent.

Hyundai Motor advanced 1.2 percent, and Kia increased 2.57 percent.

Energy shares were strong as state-run Korea Electric Power Corp. and Korea Gas Corp. gained 2.41 percent and 1.1 percent, respectively.

The local currency was trading at 1,435 won against the U.S. dollar at 9:15 a.m., down 15.6 won from the previous session.

Yonhap