South Korea Shares Gain on Strong GDP, SK Hynix Earnings

The benchmark KOSPI rose 1.2% to around 3,220 on Thursday, extending gains from the previous session, as investors reacted positively to strong economic data and corporate earnings. South Korea’s GDP grew 0.6% in Q2, avoiding a technical recession and marking the fastest pace in over a year, driven by export recovery and consumer spending. On the corporate front, tech stocks led the rally, with SK Hynix climbing 3.4% after posting record Q2 revenue and a 69% jump in profit, fueled by robust AI chip demand. LG Energy Solution (+6.2%), Samsung Biologics (+6.0%), and Hanwha Aerospace (+2.8%) also posted solid gains. Meanwhile, high-level US-South Korea tariff talks on July 25 in Washington were postponed due to a scheduling conflict with US Treasury Secretary Scott Bessent. Still, sentiment remains optimistic amid hopes that a deal could be reached before new tariffs take effect in August, with both sides working to reschedule as soon as possible.