2026.05.2601:38:01UTC+00South Korean Shares Breach 8,000 Mark

The benchmark KOSPI surged nearly 3% to around 8,050 on Tuesday, closing at a fresh record high as growing optimism over a possible US–Iran agreement lifted global risk appetite. US President Donald Trump said that negotiations with Iran were progressing “nicely,” boosting expectations for a reopening of the Strait of Hormuz and easing worries about potential disruptions to global oil supply—developments that helped drive crude prices lower.

The rally was further supported by strong gains in AI-related semiconductor stocks, underpinned by upbeat earnings expectations and solid demand for high-bandwidth memory chips. Samsung Electronics rose 2.9% and SK hynix jumped 6.9%, leading the advance. Buying interest also broadened to automakers, battery producers, and shipbuilders, with notable gains in Hyundai Motor (4.6%), Kia Corporation (1.5%), Hanwha Ocean (5.7%), HD Hyundai Heavy Industries (4.7%), Hyundai Mobis (2.0%), and LG Energy Solution (0.5%).