Home > Business > Economy

Kospi opens lower ahead of U.S. tariff details

Published: 07 Jul. 2025, 11:05

Employees work at the headquarters of Hana Bank in Jung District, central Seoul, on July 7. [YONHAP]

Seoul shares opened lower Monday as investors awaited further details from the U.S. government on tariffs ahead of a July 9 deadline.

The benchmark Korea Composite Stock Price Index (Kospi) fell 3.78 points, or 0.12 percent, to 3,050.50 in the first 15 minutes of trading.

With country-by-country tariffs set to take effect Aug. 1, major U.S. trading partners, including Korea, have stepped up efforts to secure trade deals or lobby for more time.

The Trump administration plans to send letters to trading partners over the next several days as its 90-day tariff pause comes to an end Wednesday, or July 9.

In Seoul, tech and auto stocks led the decline.

Market bellwether Samsung Electronics fell 1.03 percent and chip giant SK hynix slipped 0.18 percent.

Top carmaker Hyundai Motor shed 0.95 percent and leading shipping firm HMM dropped 2.26 percent.

Among gainers, leading battery maker LG Energy Solution rose 0.64 percent and state-run utility Korea Electric Power Corp. climbed 2.03 percent.

LG Energy Solution estimated its second-quarter operating profit more than doubled to 492.2 billion won ($361.2 million) from 195.3 billion won a year earlier.

The won was quoted at 1,364.20 against the dollar, up by 0.45 percent from the previous trading session of 1,358.10.

Yonhap