TR Korea ETF (02848) plummeted 5.38% during intraday trading on Friday, reflecting broad market weakness in South Korean equities.
The decline followed a sharp reversal in the KOSPI index, which initially surpassed the 8,000-point mark before plunging 4.1% to 7,654.5. South Korean Finance Minister Yoo Il-ho stated that despite strong export data, prolonged conflicts in the Middle East are gradually impacting the South Korean economy through rising consumer prices, with the government pledging to take proactive measures to stabilize supply chains.
Additional pressure came from the semiconductor sector, where Samsung Electronics fell over 5% and SK Hynix dropped more than 4%. The South Korean union of Samsung Electronics announced that the tech giant has proposed resuming negotiations without preconditions after government-mediated talks collapsed, though the union maintained its original strike plan set to begin on May 21, potentially disrupting production at the world's largest memory chip manufacturer.
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