10.07.202601:42:57UTC+00South Korean Shares Extend Gains

The benchmark KOSPI jumped more than 4% to around 7,620 on Friday, extending its rally from the previous session as chipmakers followed an overnight surge in global semiconductor stocks. Technology shares led the market higher, with Samsung Electronics gaining nearly 4% and Samsung Electro-Mechanics advancing more than 9%. Other key gainers included SK hynix (up 1.1%), SK Square (5.2%), Hyundai Motor (3.3%), LG Energy Solution (4.3%), Kia Corporation (2.1%), KB Financial Group (7.2%), and Doosan Enerbility (7.9%).

Sentiment was further buoyed by easing oil prices despite renewed US–Iran tensions, after reports that Tehran was seeking negotiations helped temper fears of prolonged supply disruptions and sustained inflationary pressures. In addition, President Lee Jae Myung and Mongolian President Ukhnaa Khurelsukh agreed to strengthen cooperation in critical minerals, trade, and advanced technologies, bolstering optimism about South Korea’s long-term supply chain security and growth prospects in high-tech industries.