KOSPI edges up 0.03% on Wall Street gains, US-Iran peace hopes
Synopsis
Seoul's KOSPI barely held its early gains on 22 May, trimming a 0.74% open to just 0.03% as Samsung and Hyundai slid despite Wall Street's overnight rally on US-Iran diplomatic progress. The split between tech losers and EV-battery winners mirrors a broader market debate about where the next growth cycle is coming from.
Key Takeaways
KOSPI was up 2.71 points (0.03%) at 7,818.3 as of 9:15 am on 22 May , after opening 0.74% higher.
Gains were driven by overnight Wall Street advances tied to US-Iran diplomatic progress; S&P 500 rose 0.2% , Dow gained 0.6% .
Samsung Electronics fell 1.34% and SK Hynix lost 2.29% ; Hyundai Motor shed 2.55% .
LG Energy Solution gained 2.62% and SK Square rose 0.76% .
The Korean won weakened to 1,507.4 per US dollar, down 1.3 won from the prior session.
South Korean farming household income hit a record 54.66 million won in the latest year, up 8% , led by a 28.5% surge in livestock earnings.
South Korea's benchmark Korea Composite Stock Price Index (KOSPI) opened marginally higher on Friday, 22 May, tracking overnight gains on Wall Street as rising hopes for a diplomatic resolution to the US-Iran conflict lifted global sentiment. The index trimmed early gains to trade up just 2.71 points, or 0.03 percent, at 7,818.3 as of 9:15 am local time, after starting the session 0.74 percent higher.
What Drove the Early Optimism
The positive open followed a session of gains on US markets after Iran signalled that the latest American proposal had partially bridged differences between the two sides, raising expectations that the three-month conflict could end with a peace deal. On Wall Street, the S&P 500 rose 0.2 percent, the Dow Jones Industrial Average gained 0.6 percent, and the tech-heavy Nasdaq Composite added 0.1 percent. Geopolitical risk reduction has been a consistent driver of short-term market rallies this quarter.
Key Movers in Seoul
Market heavyweights traded mixed, limiting the index's upside. Samsung Electronics slipped 1.34 percent after surging the previous session, while chipmaking rival SK Hynix fell 2.29 percent. Automakers also weighed on sentiment: Hyundai Motor shed 2.55 percent and affiliate Kia declined 1.61 percent.
On the gainers' side, artificial intelligence investment firm SK Square rose 0.76 percent, and battery manufacturer LG Energy Solution climbed 2.62 percent, reflecting continued investor interest in the EV supply chain and AI-linked assets.
Currency and Macro Backdrop
The Korean won was trading at 1,507.4 won per US dollar as of 9:15 am, down 1.3 won from the previous session, suggesting mild pressure on the currency even as equities held steady. A weaker won can support export-oriented firms but adds to import-cost pressures.
South Korean Farm Income Hits Record High
Separately, government data released on Friday showed that the average income of South Korea's farming households climbed to a record 54.66 million won (approximately US$36,200) last year, up 8 percent from the previous year, according to the Ministry of Data and Statistics. The surge was primarily driven by a 28.5 percent rise in livestock earnings and a 22.3 percent gain from the broader farming sector — the strongest combined agricultural income growth in recent years.
With geopolitical developments remaining fluid, KOSPI's direction through the session will likely hinge on further signals from US-Iran diplomatic channels and any fresh cues from global tech stocks.
Point of View
South Korea's benchmark could keep treading water even as its composition quietly shifts. The record farm income figure, while positive for rural consumption, is unlikely to move equity markets — but it does signal that income gains in Korea are increasingly uneven across sectors.
NationPress
10 Aug 2026
Frequently Asked Questions
Why did KOSPI open higher on 22 May 2025?
KOSPI opened higher on 22 May following overnight gains on Wall Street, which were driven by Iran's statement that a US diplomatic proposal had partly narrowed differences between the two sides, raising hopes of an end to the three-month US-Iran conflict.
Which stocks fell on the KOSPI on 22 May?
Samsung Electronics fell 1.34%, SK Hynix dropped 2.29%, Hyundai Motor shed 2.55%, and Kia declined 1.61%, collectively limiting the index's gains despite the positive opening.
How did US markets perform overnight ahead of the KOSPI session?
The S&P 500 rose 0.2%, the Dow Jones Industrial Average gained 0.6%, and the Nasdaq Composite added 0.1%, all lifted by optimism over potential US-Iran diplomatic progress.
What happened to South Korean farming household income?
Average income for South Korean farming households reached a record 54.66 million won (approximately US$36,200) in the latest year, up 8% year-on-year, according to the Ministry of Data and Statistics. The rise was led by a 28.5% increase in livestock earnings and a 22.3% gain from the farming sector.
Where did the Korean won trade on 22 May?
The Korean won was trading at 1,507.4 won per US dollar as of 9:15 am on 22 May, down 1.3 won from the previous session, reflecting mild currency softness alongside the equity market's cautious tone.
