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Tag: chuseok

  • South Korea KOSPI Tests 7,100 on Chip Gains Before Pre-Holiday Selling

    South Korea KOSPI Tests 7,100 on Chip Gains Before Pre-Holiday Selling

    South Korea’s benchmark KOSPI broke past 7,100 in early Tuesday trading as semiconductor heavyweights tracked a Wall Street rally before profit-taking trimmed gains ahead of the Chuseok holiday.

    The index opened 1.94 percent higher at 7,153.99, gaining 136.08 points at the opening bell, before retreating to the late 7,020 level as domestic traders liquidated positions ahead of a two-day market closure.

    Semiconductor Heavyweights Drive Early Surge

    Tech issues led the opening advance, tracking overnight strength in the United States where the Philadelphia Semiconductor Index gained 2.06 percent and the tech-heavy Nasdaq Composite reached a record close of 27,244.28. Samsung Electronics advanced as much as 2.80 percent intraday to touch 285,000 won (approximately $210) before paring its advance to around 2 percent. SK Hynix climbed 1.96 percent to reach 1.9 million won (approximately $1,400) in early deals before flattening out.

    Chip-adjacent suppliers and affiliate holdings tracked the initial rally. SK Square rose 4.41 percent, Samsung Electronics preferred shares gained 3.31 percent, and Samsung Electro-Mechanics climbed 2.22 percent. On the junior KOSDAQ board, equipment maker Wonik IPS added 4.68 percent while Simmtech and HPSP gained 2.57 percent and 2.03 percent respectively.

    Retail Debut Sparks Household Goods Rally

    Wise Planet Company delivered the session’s sharpest single-stock move during its KOSDAQ debut. The household goods retailer jumped 230 percent above its initial public offering price of 12,000 won (approximately $8.9) to trade at 29,200 won (approximately $22), reaching an intraday peak gain of 243.33 percent. The listing lifted the broader household goods index by 134.92 percent.

    Other consumer and industrial names showed sharp dispersion. POSCO Future M opened more than 4 percent higher after confirming a 1.1 trillion won (approximately $814.1 million) lithium iron phosphate cathode supply contract with battery maker SK On, but selling pressure pulled the stock into negative territory by midday. Shipping operator KSS Line gained roughly 15 percent following a share buyback disclosure, while cyber-security provider Xgate posted double-digit gains.

    Institutional and Foreign Positioning

    Trading flows fluctuated sharply as domestic retail participants moved into cash. Retail investors on the main board sold a net 366 billion won (approximately $270.9 million) in opening deals, while foreign and institutional desks recorded net purchases of 174 billion won (approximately $128.8 million) and 142.9 billion won (approximately $105.8 million) before shifting volume across the morning session.

    In the foreign exchange market, the South Korean won traded around the early 1,350 won level against the US dollar, opening at 1,349.8 won as dollar conversions from exporters provided currency support.

    Holiday Consolidation Mirrors Previous Session

    Tuesday’s price action repeated the pattern of the prior trading day. On Monday, the KOSPI opened 2.20 percent higher at 7,161.61, reached an intraday high of 7,171.44, and then gave up nearly all its gains to close at 7,017.91, up just 0.15 percent after retail accounts sold a net 1.8886 trillion won (approximately $1.4 billion).

    South Korean financial markets remain closed on Wednesday and Thursday for the Chuseok holiday, leaving domestic bourses scheduled to resume regular trading on Friday, September 26.

  • South Korea Inflation Hits 3.1% as Telecom Discounts Fade Out

    South Korea Inflation Hits 3.1% as Telecom Discounts Fade Out

    South Korea’s consumer price index rose 3.1 per cent in August, distorted by an end to historical mobile billing discounts, according to the Ministry of Economy and Finance.

    Excluding the sharp rebound in telecommunications charges, consumer inflation ran at an estimated 2.5 per cent for the month. The gap stems directly from base effects created 12 months earlier, when SK Telecom rolled out widespread customer discounts.

    Base Effects and Mobile Charges

    Mobile phone service charges jumped 26.7 per cent in August compared to the same period last year. That spike reflects an abnormal comparison point in August 2025, when SK Telecom halved subscriber bills following a cyber security breach that compromised records for more than 20 million users.

    “In August last year, there was a temporary 50-percent discount in mobile bills, which served as a base effect, leading to a 3.1 percent rise in consumer prices this month,” said Kang Gi-lyong, a senior financial official, during a government meeting in Seoul.

    The return to normal tariff collections across the country’s primary wireless network added 0.6 percentage points directly to the headline inflation reading.

    Energy Caps and Holiday Pressures

    State market interventions also altered headline price dynamics across other consumer categories. South Korea’s active fuel price cap trimmed an estimated 0.5 percentage points off total consumer price growth, keeping the August index below an unmitigated 3.6 per cent.

    For consumer brands and retailers, the underlying 2.5 per cent rate reflects a clearer picture of domestic demand than the headline figure suggests. Household purchasing power across major metropolitan areas remains tight, but spending on staples and discretionary services has stabilized as core price growth cools.

    Government economic planners expect overall consumer price pressures to moderate further during September. Officials are preparing support packages to keep food and household goods prices stable ahead of the Chuseok holiday shopping period.

  • Map apps offer tips to beat the Chuseok traffic

    Map apps offer tips to beat the Chuseok traffic

    Korea’s top navigation apps have released their projections on the best and worst times to travel from Seoul to the provinces for the Chuseok harvest holiday.

    The three-day Chuseok holiday starts on Sunday, but the government granted a substitute holiday on Wednesday, as Sunday is already a day off. The Chuseok holiday season is considered to run from Friday night until Wednesday.

    SK Telecom, which operates the country’s largest mobile navigation app, T Map, advised drivers headed for Busan or Gwangju to leave Seoul before 10 a.m. on Friday or after 3 p.m. on Saturday or Sunday based on its analysis of traffic data accumulated over the last five years.

    The worst traveling hour for people heading to Busan from Seoul will be around 11 a.m. on Monday. The mobile carrier said it would take more than eight hours to travel from Seoul to the coastal city then. If there’s no traffic, Seoul residents can reach Busan in a little over four hours.

    As for travelers to Gwangju, SK Telecom said the worst time to leave Seoul would be 4 p.m. on Friday.

    For those traveling back to Seoul from Busan or Gwangju, the mobile carrier suggested leaving before 8 a.m. on Monday or after 8 p.m. on Tuesday.

    The KakaoNavi app, operated by Kakao Mobility, also disclosed its own projections based on data it accumulated since 2011.

    Kakao advised drivers to leave Seoul between 6 and 8 p.m. on Sunday if they are headed to Busan. The company said the trip would only take about 4 hours and 30 minutes at that time.

    Kakao also gave exact times for travelers leaving Seoul for Gwangju, Daejeon, Daegu and Ulsan as well. It said the best time to leave for Gwangju will be 6:40 p.m. on Sunday. For Daejeon it will be 7:40 p.m. and for Daegu and Ulsan it will be 7 p.m.

    For those traveling back to Seoul from different destinations, the company suggested that drivers leave after 8 p.m. on Monday. Both companies, however, said that traffic will generally move at a crawl on highways on Monday until late at night.

    As drivers tend to be increasingly dependent on navigation apps during the holiday period to find less congested routes, SK Telecom spokesperson said it has secured extra server capacity for T Map. Last year, some navigation apps, including OneNavi, malfunctioned during the holiday due to traffic overloads.

    It is also gearing up to secure stable network connectivity during the holiday season, as failed data connections on roads could cause chaos even if the apps work well.

    According to SK Telecom, T Map usage increases by 51.5 percent and LTE data usage increases by 11.3 percent during the Chuseok season. To provide stable telecommunications networks, the mobile carrier added data capacity at existing base stations and extra WiFi equipment near dense traffic areas like highways, large discount stores and airports.

    It will operate an emergency response team consisting of roughly 2,200 staff members to manage network quality from Friday through Wednesday.

    Other carriers are also beefing up their networks. KT designated 700 places, including bus terminals, airports and department stores as areas that will be reinforced. The carrier said it plans to use 590 staff members to monitor LTE base stations in these areas around the clock. LG U+ said it will also operate an emergency response team to monitor its telecommunications network from Saturday through Wednesday.

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