29.06.202601:36:42UTC+00South Korean Shares Extend Losses on US-Iran Uncertainty

The benchmark KOSPI fell more than 1% to around 8,300 on Monday, extending the previous session’s losses as renewed uncertainty over the fragile US-Iran ceasefire drove oil prices higher and undermined global risk appetite. The United States and Iran exchanged fresh strikes over the weekend, and Tehran canceled planned technical talks with Washington, deepening concerns about the durability of the ceasefire and the risk of disruptions to energy supplies and shipping routes through the Strait of Hormuz.

At the same time, investors were awaiting President Lee Jae Myung’s announcement of large-scale investment plans in semiconductors and artificial intelligence, with Samsung Electronics and SK Group expected to unveil major long-term commitments aimed at strengthening South Korea’s advanced technology sector. However, despite this supportive policy backdrop, heavyweight chipmakers came under pressure: Samsung Electronics slid more than 4% and SK hynix dropped over 3%. Additional losses were recorded in SK Square (-6.1%), SK Inc. (-6.6%), and Hyundai Mobis (-1.6%).