Home > Business > Finance

Kospi opens more than 1% lower following U.S. strike on Iran

Published: 23 Jun. 2025, 11:10

A screen in Hana Bank's trading room in central Seoul on June 23. [NEWS1]

Korean stocks opened over 1 percent lower Monday over heightened Middle Eastern uncertainty following the United States' bombing attacks on key Iranian nuclear facilities over the weekend.

The Kospi dropped 38.17 points, or 1.26 percent, to 2,983.67 in the first 15 minutes of trading.

Engaging itself in the Israel-Iran conflict, the United States used B-2 bombers to launch airstrikes on three key nuclear sites in Iran on Saturday, with President Donald Trump describing the operation as "successful" and claiming the Iranian sites were "obliterated."

Most blue chips lost ground, with market heavyweight Samsung Electronics plunging 2.61 percent and chip rival SK hynix sliding 2.53 percent.

Top bio company Samsung Biologics dropped 1.77 percent, and leading battery manufacturer LG Energy Solution plummeted 3.61 percent. Top automaker Hyundai Motor retreated 4.05 percent.

In contrast, refiners and internet portal operators advanced. Leading refiner SK Innovation jumped 3.71 percent, and top internet portal firm Naver gained 1.86 percent.

The local currency was trading at 1,379.3 won against the greenback at 9:15 a.m., down sharply by 13.7 won from the previous session.

Yonhap