KOSPI hits new all-time high despite foreign sell-off; Won surges to 1470s

The Seoul stock market, KOSPI, has once again achieved a historic milestone, closing at 7,498.00 points, marking its fourth consecutive day of gains. This remarkable performance comes even as foreign investors have been actively selling off their holdings, underscoring the resilience and upward momentum of the Korean market. The KOSPI's ascent continues to break previous records, demonstrating strong domestic investor confidence.

However, this bullish trend in the stock market is juxtaposed with a weakening of the Korean won. The exchange rate against the US dollar has climbed back into the 1470 won range, reflecting a broader economic dynamic. The KOSPI's surge, despite foreign capital outflows, suggests that local institutional and retail investors are driving the market, possibly anticipating further growth or seeking refuge in equities amidst currency fluctuations.

From a South Korean perspective, this dual movement presents a complex picture. While the record-breaking stock market is a source of national pride and a testament to the strength of key industries like semiconductors, the depreciating won raises concerns about import costs and inflationary pressures. The Hankyoreh will continue to analyze these intertwined economic indicators, providing context on how domestic factors and global financial trends are shaping Korea's economic landscape.