Seoul shares open higher on batteries, chemicals
South Korean stocks opened higher Monday, led by gains of major battery and chemical shares, despite renewed concerns over the US President Donald Trump administration's threat to impose sweeping tariffs on smartphone manufacturers.
The benchmark Korea Composite Stock Price Index rose 13.11 points, or 0.51 percent, to 2,605.20 in the first 15 minutes of trading.
On Friday, Trump threatened to roll out 25 percent tariffs by the end of next month on smartphones made by Apple, Samsung Electronics Co. and other companies if they are not manufactured in the United States.
The remarks posted by Trump on social media led to plunges in the US markets, with the Dow Jones Industrial Average dropping 0.61 percent and the Nasdaq Composite losing 1.0 percent.
In Seoul, top-cap shares opened mixed.
Market bellwether Samsung Electronics lost 0.18 percent, and chip giant SK hynix tumbled 1.25 percent.
But leading battery maker LG Energy Solution spiked 3.92 percent, and industry leader LG Chem surged 2.47 percent. No. 1 steelmaker Posco Holdings advanced 1.71 percent.
Major bio firm Samsung Biologics added 0.39 percent, while defense giant Hanwha Aerospace dropped 3.13 percent.
Carmakers opened higher. Top automaker Hyundai Motor and its sister affiliate Kia added 0.23 percent each.
Leading financial firm KB Financial went up 0.71 percent, and top online portal operator Naver edged up 0.05 percent.
The local currency was trading at 1,366.65 won against the greenback at 9:15 a.m., up 8.95 won from the previous session. (Yonhap)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
8 hours ago
- Korea Herald
More than a vote: What June 3 election means to South Koreans
After six months of political chaos, voters seek justice, change and return to democratic norms, but can the available options provide this? As South Korea heads to the polls for an earlier-than-expected presidential election on June 3, the nation stands at a political crossroads. The election comes just six months after former President Yoon Suk Yeol declared martial law on Dec. 3, 2024 — a move that shocked the nation and the world, paralyzed institutions, and triggered mass protests reminiscent of past democratic uprisings. Within days, the National Assembly passed an impeachment motion against Yoon, which was upheld by the Constitutional Court on April 4, removing him from office. In the aftermath, the country has found itself not only leaderless but forced to face its deep divisions — political, generational and ideological. What began as a constitutional crisis has become an existential moment for South Korean democracy. Now, as early voting began and candidates make their final appeals, South Koreans are being asked not just to choose a new leader but to deliver a verdict on everything that has unfolded over the past half year. For many, this election is not just about policies or party loyalty — it is about judgment, redemption and the kind of future they want to build. Experts say this divergence in voter sentiment stems from more than just ideology — it reflects deeper fractures in trust, governance, and generational experience. Professor Park Eun-hong of Sungkonghoe University argues that while some voters question whether anything ever changes through elections, this one is no ordinary vote. 'This is an exceptional election — triggered by the martial law declaration and culminating in a president's impeachment. From the outside, it's a moment that gauges the resilience of Korean democracy,' Park told The Korea Herald. But for that resilience to hold, efforts need to be made to heal the divide. Observers noted several challenges. Older voters who have seen past presidents promise change and fail to deliver it risk losing their faith in politics if the cycle continues. Meanwhile, losers must acknowledge and respect the result, while the winners should practice inclusive politics that recognize the concerns of those who did not vote for them, they said. With one candidate appearing to dominate the race, some voters feel little motivation to participate, believing the outcome is already set. Still, overseas voter turnout has hit a historic high — what commentator Choi Yo-han calls a 'judgment vote' sparked by anger and embarrassment over global criticism of South Korea's martial law episode. Across the political spectrum, parties are calling for unity. But after months of turmoil, including the December crisis and impeachment proceedings, restoring trust will take more than words — it will require real leadership, according to experts. To better understand the mood of the nation, The Korea Herald spoke with voters across generations — from the youngest participants in their late teens to citizens in their 80s who still remember the country's authoritarian past after the 1950-53 Korean War. Some approach the ballot with renewed purpose, seeing it as an opportunity to punish past wrongdoing and reclaim civic dignity. Others remain skeptical, wondering whether any election can deliver the deep political renewal the country so desperately needs. "Call for compassion, continuity" - Lim Hyung-jun, student, 18 Casting a ballot for the first time in his life, 18-year-old Lim Hyung-jun can't wait for election day to arrive. As the youngest among the eligible voters, Lim said this election was 'the start of making something wrong, right again.' Lim vividly recalls Dec. 3, 2024 — the day Yoon declared martial law — as a surreal moment that brought the weight of history crashing into his present. 'It was something I had only read about in textbooks,' he said. 'But now, more people are finally paying attention. I hope this crisis leads to more active political participation.' His political awakening, however, began much earlier. At age 10, he remembers clutching his parents' hands during the candlelight protests that led to the impeachment of former President Park Geun-hye. That early memory, he says, instilled in him a belief in people power. What he seeks most from this election is persistence. 'Five years sounds long, but it's actually a short time to realize policy pledges,' he said. He pointed out how frequently presidential ideologies shift. 'Presidents have switched back and forth between liberal and conservative blocs,' he said, adding that he hopes the next administration fosters continuity so that meaningful policies are not abandoned with a change in leadership. Beyond ideology, Lim wants a president who listens. He finds inspiration in former President Roh Moo-hyun, describing him as 'someone who felt like a neighbor, a leader who truly listened.' Lim hopes the next president — conservative or progressive — upholds that spirit. Above all, he hopes voters will think beyond themselves. 'I hope people make good, selfless choices,' he said. 'We live in a society that's grown colder with individualism. Especially for students, financial burdens weigh heavily — and we need policies that reflect collective care, not just privilege.' 'We need real dialogue' - Lee June-seong, college student, 25 25-year-old Hanyang University student Lee June-seong, looked forward to reading up on the candidates' pledges on long-standing issues concerning young Koreans — such as unemployment rates, housing problems and living expense support funds. Although the candidates touched on the issues, Lee was disappointed to find that they were only addressed briefly through the candidates' pledges without much detail. "Most of the pledges mentioned are aligned with the issues I'm concerned about, but there was little detail on how they would actually be implemented. That was a little disappointing," Lee said. What's worse, Lee adds, is that televised debates have devolved into smear campaigns. 'Looking at the presidential debates that have been held previously, candidates seem more interested in attacking each other rather than explaining their vision for Korea, which only fuels the Koreans' level of exhaustion toward politics.' Whoever the next president may be, Lee added that he wishes for a permanent communication channel to be established between young Koreans and the president, similar to the online petition system in the Cheong Wa Dae website established under the Moon Jae-in administration from 2017 to 2022. 'I wish a communication channel or a regular program could be provided for young Koreans to have a chance to talk with the future president,' Lee mentioned. Lee believes that in order for people to pay continuous attention to politics, policies and government-led projects that foster communication between the people and the president are the key. 'A vote to save Korea' - Kim, office worker, 30 For Kim, a 30-year-old office worker who declined to give her full name, this year's presidential election is the most significant she's ever faced. 'I believe this vote is key to saving Korea,' she said. Having voted in every election since becoming eligible, Kim says the stakes feel higher than ever following the political and economic instability triggered by the Dec. 3 martial law declaration. 'We've already seen two presidents impeached in less than 10 years. While some people may say that it's just a mere happening, I think it's more than that. Korea has shown that it needs a lot of change and reform in the political sphere, and I think every vote from this election can be part of that change.' Going forward, Kim also added that she hopes the next president will work to address all aspects of inequality that currently exists in Korean society, pointing specifically toward gender inequality issues in labor. 'I hope proper policies can be put into place in the future to resolve issues such as employment stability for women returning to their jobs after taking pregnancy leave as well as gender wage gaps — since Korea struggles with that severely,' Kim noted. Recently, the Korean Confederation of Trade Unions' Labor Institute revealed in January that South Korea's gender wage gap stands as the largest among OECD nations at 31.2 percent. When asked about the kind of president she hopes will take on the role, Kim added that she wants a president who will 'truly listen to the people's needs,' while making sure 'what has to be done, gets done.' 'Still skeptical' - Lee, career counselor, 44 In Daegu, Lee, a 44-year-old career counselor, doesn't expect much from the next president — no matter who wins. There won't be a dramatic change for the country, Lee believes. 'Some people seem to have high hopes for the upcoming presidential election because they suffered from different events since the martial law declaration in December. But I am not sure whether the next president can bring a bright change to the country,' she said. 'The former presidents, including Lee Myung-bak, Park Geun-hye, Moon Jae-in, and Yoon Suk Yeol, were indicted on different charges made in the past. And we now have a presidential candidate, who is attending five different criminal trials," Lee noted. "I heard another candidate's name from a bad political scandal. A different candidate stirred up a controversy by claiming that the late national independence hero Kim Gu could be Chinese,' Lee added, questioning whether South Korea truly has an appropriate presidential candidate. Lee shared that she hoped the presidents to bring a positive impact to the country in the past by effectively handling important social matters like real estate problems and greater job opportunities. "When former president Park Geun-hye promised zero tolerance for corruption and misconduct and vowed to actively assign special prosecutors to investigate the crimes, I hoped for a fair and just society,' said Lee. But after seeing Park becoming the third president to face criminal trial on bribery and corruption charges, Lee stopped herself from having high expectations. 'I heard that our economy continues to struggle and more small business owners are closing down their businesses. The next president really needs to focus on South Korea's political and economic recovery,' Lee insisted, reluctantly sharing her hopes for one last time. 'I won't make the same mistake' — Ha, caregiver, 63 A caregiver surnamed Ha shared that she had given a lot of thought to the presidential election in order to vote more carefully than ever before. 'I agree with some people saying that this election will determine the future of our country. It is South Korea's second presidential election after removing the existing president. This actually is more than enough reason for me to take the upcoming election very seriously,' said Ha. Though the 64-year-old Changwon resident did not know much about politics or pay close attention to the elections in the past, Ha tried to spend time thinking and cast her vote for the right candidate. 'I personally felt that my lack of interest in politics might have contributed to the rise of someone like Yoon Suk Yeol, who made an absurd decision to declare martial law, so I am trying to avoid repeating past mistakes,' she added. Ha was surprised to know that there were many channels for the voters to learn about the presidential candidates. 'I'm someone who is more familiar with TV debates. But there are so many YouTube channels that do not only feature the individual presidential candidates but also provide a general overview and weekly updates about the candidates' election campaigns. Now, the voters are responsible to determine facts from fake news and vote for the trustworthy candidate,' Ha told The Korea Herald. 'Boosting the country's economy will be something that I want most from the next president. But I really want the president to be the true leader who can embrace differences and solve the country's intense political division,' she added. 'I also hope the next president does not have any 'family risk' like Yoon and Kim Keon Hee. 'Exhausted by politics' - Song Dae-gun, retired, 80s Though Song Dae-gun, who is in his 80s, plans to fulfill his civic duty and cast his vote for the June 3 election, he shared pessimistic views toward the South Korean presidential election. 'I feel that the multiple presidential elections, here, discouraged many people. I think this election will be no different from the previous ones,' he said. Song, who has taken a lot of interest in political, social and economic issues ever since he participated in Busan's April 19 Revolution in 1960, feels that those in politics don't care about the people. 'It has been a long time since I saw a presidential candidate who genuinely tried to convince others that he (she) wanted to serve the country. But all I hear are criticisms and hate speech targeting other candidates. I am trying to keep some distance, because I felt that paying attention to such stories only exhausts me,' the retiree of a conglomerate. While refusing to share any specific policy or quality that he expects from the presidential candidate, Song hoped the next president to truly care about the people and the country. A test of Korea's democratic resilience For some, the turmoil of the past six months has awakened a sense of urgency and duty. For others, the repeated cycles of scandal, impeachment, and political disillusionment have deepened skepticism. Experts say the divide reflects deeper fractures in trust, governance, and generational experience. Professor Park Eun-hong of Sungkonghoe University pointed out that voters didn't all see this as a battle between the instigators of martial law and the forces of democracy. 'Martial law represents the freezing of democratic norms by military force. And yet, within months, we saw a national pushback — from civil society, lawmakers across party lines, and ultimately, a unanimous Constitutional Court decision. It was a collective act of democratic recovery.' Park added that the election is not just about choosing the next leader but about reaffirming the public's belief in electoral democracy. He expects voter turnout to be strong, driven by the urgency of reclaiming civic control after such an extraordinary rupture in constitutional order. 'This is a vote to restore what we almost lost,' he said. Yet not all voters are inspired. Professor Lee Jun-han of Incheon University notes that older generations, in particular, carry the weight of political disappointment. 'They've lived through repeated transitions that promised change but didn't deliver. That breeds disillusionment,' he said. The lack of trustworthy candidates only deepens that fatigue, especially in a climate of economic instability and weak global outlooks. With a certain candidate already seemingly leading the election, the expected result is another factor for some people's low enthusiasm. Political commentator Choi Yo-han pointed to a surge in overseas voter turnout — the highest in history — as evidence of what he called 'a judgment vote.' 'Many overseas Koreans were stunned by international reactions to martial law. This anger and embarrassment are driving people to vote.' Ultimately, South Koreans face more than just the choice of a president. As Park Eun-hong puts it, 'This election is as important as the martial law itself — it lays bare the fragility of our democratic institutions but also shows our ability to recover.' In this extraordinary election, both conservative and progressive parties — and even those that claim to transcend the traditional divide — have all emphasized the need for national unity. That shared refrain underscores a broader task: Regardless of ideology, South Korea must find a way back to political normalcy, and that requires genuine leadership committed to bridging divides. Since the December crisis and through the impeachment proceedings, political conflict has remained intense. But for those hoping the election will bring closure and peace, Park warns, that democratic principles also require acceptance. 'In a healthy democracy, fierce debate must be followed by recognition of the result. If the election is fair, even the losing side must acknowledge the outcome,' he said. Looking ahead, Park stresses that whoever wins must embrace even those who did not support them. 'The next president must practice politics of inclusion — a kind of sunshine politics that brings in dissenters and skeptics alike. Only then can South Korea begin to heal, rebuild trust, and move forward as one nation,' he said. Shin Yul, a professor at Myongji University, also added that what is important is the continuity in governance. 'This election will decide whether Korean politics takes a step toward maturity — or chaos. What must never happen is another administration that tears down all of what came before. We need persistence in politics, especially in foreign policy.' With growing internal polarization, mounting economic pressure, and uncertain geopolitical tensions, the decision now lies with the people. It is in the hands of voters to choose a leader capable of uniting the nation, healing its divides, and anchoring South Korea in the face of volatility. 'This is a chance to demonstrate that democracy, even when shaken, can endure,' Park said. 'That resilience begins with the act of voting.' jychoi@ sj_lee@
Korea Herald
9 hours ago
- Korea Herald
Korea to limit number of times day care centers need to respond to needless parent complaints
The South Korean government plans to set up a guideline for operation of day care centers to prevent actions that may hinder the operations of child care facilities such as parents repeatedly issuing complaints for no good reason. The Ministry of Education reportedly issued an administrative notification ahead of implementing the guideline, with will specify the rights imposed on teachers and management of the day care centers. This follows Education Minister Lee Ju-ho — currently doubling as acting president — pledging last month to set up a criteria distinguishing "justified guidance from child abuse crimes." According to the new guidelines, the parent or legal guardian of a child can issue a complaint about a disciplinary action against a child within 14 days. The head of the day care center is mandated to respond to a complaint within the 14 days it was made. But if the same complaint is made repeatedly without justifiable cause, the day care center can refuse to reply after responding to the matter twice. The guideline specified that members of the day care center may implement measures for guidance on a range of issues: matters related to the growth and development of children, those that may inflict health and danger of children or other people, those that infringe justified child care duties of those working for the center or other children's right to be cared for, along with possession and use of items that can influence the overall atmosphere of the class. As such, teachers and heads of day care centers can guide the child on matters such as manners, use of language and overall communication, conflicts within children, and the attitude toward particularly vulnerable children.
Korea Herald
10 hours ago
- Korea Herald
Trump plans 50% tariffs on steel and aluminum
WEST MIFFLIN, Pennsylvania (Reuters) — US President Donald Trump said he planned to increase tariffs on imported steel and aluminum to 50 percent from 25 percent, ratcheting up pressure on global steel producers and deepening his trade war. "We are going to be imposing a 25 percent increase. We're going to bring it from 25 percent to 50 percent — the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States," he said at a rally in Pennsylvania. The doubling of steel and aluminum levies intensifies Trump's global trade war and came just hours after he accused China of violating an agreement with the US to mutually roll back tariffs and trade restrictions for critical minerals. Trump announced the higher tariffs just outside Pittsburgh, where he was talking up an agreement between Nippon Steel and US Steel. Trump said the $14.9 billion deal, like the tariff increase, will help keep jobs for steel workers in the US. He later posted on social media that the increased tariff would also apply to aluminum products and that it would take effect Wednesday. Shares of steelmaker Cleveland-Cliffs surged 26 percent after the market close as investors bet the new levies will help its profits. The announcement drew harsh reactions from US trading partners around the world. Canada's Chamber of Commerce quickly denounced the tariff hike as "antithetical to North American economic security." "Unwinding the efficient, competitive and reliable cross-border supply chains like we have in steel and aluminum comes at a great cost to both countries," Candace Laing, president of the chamber, said in a statement. Canada's United Steelworkers union called the move a direct attack on Canadian industries and workers. The European Commission said Saturday that Europe was prepared to retaliate. "This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic," a European Commission spokesperson said. "The EU is prepared to impose countermeasures, including in response to the latest US tariff increase." Australia's center-left government also condemned the tariff increase, with Trade Minister Don Farrell calling it "unjustified and not the act of a friend." Trump spoke at US Steel's Mon Valley Works, a steel plant that symbolizes both the one-time strength and the decline of US manufacturing power as the Rust Belt's steel plants and factories lost business to international rivals. Closely contested Pennsylvania is also a major prize in presidential elections. The US is the world's largest steel importer, excluding the European Union, with a total of 26.2 million tons of imported steel in 2024, according to the Department of Commerce. As a result, the new tariffs will likely increase steel prices across the board, hitting industry and consumers alike. Steel and aluminum tariffs were among the earliest put into effect by Trump when he returned to office in January. The tariffs of 25 percent on most steel and aluminum imported to the US went into effect in March, and he had briefly threatened a 50 percent levy on Canadian steel but ultimately backed off. Under the so-called Section 232 national security authority, the import taxes include both raw metals and derivative products as diverse as stainless steel sinks, gas ranges, air conditioner evaporator coils, horseshoes, aluminum frying pans and steel door hinges. The 2024 import value for the 289 product categories came to $147.3 billion with nearly two-thirds aluminum and one-third steel, according to Census Bureau data retrieved through the US International Trade Commission's Data Web system. By contrast, Trump's first two rounds of punitive tariffs on Chinese industrial goods in 2018 during his first term totaled $50 billion in annual import value.
