03.09.202502:19:03UTC+00South Korean Shares Climb on Chip Gains and Government Aid

On Wednesday, the KOSPI index saw a modest increase of 0.2%, climbing to approximately 3,178. This marked the second consecutive day of gains, driven by robust performances in semiconductor stocks and new policy initiatives that boosted market sentiment. SK Hynix, South Korea's second-largest semiconductor manufacturer, saw an uptick following the announcement of its adoption of ASML’s High Numerical Aperture EUV lithography system at its M16 plant. This move, a pioneering effort within the industry, has heightened expectations for advancements in next-generation memory solutions amid escalating demand for AI technologies. Similarly, shares of Samsung Electronics surged, as the tech sector made a recovery from significant prior losses. Additionally, the Korean government introduced a KRW 570 billion emergency support package aimed at assisting steel and aluminum companies affected by the 50% US import tariffs. This aid comprises low-interest loans and an expansion of trade insurance offerings, which should alleviate concerns over export competitiveness. Among the notable market performers, SK Hynix advanced by 0.7%, Samsung Electronics increased by 0.2%, and Doosan Enerbility rose by 3.2%, whereas HD Hyundai Heavy Industries experienced a decline of 2%.