Finance leader says KOSPI carried out higher than prior to Heart East battle | Yonhap Information Company

SEOUL, Would possibly 6 (Yonhap) — Finance Minister Koo Yun-cheol has mentioned South Korea’s inventory marketplace has carried out higher than prior to Heart East tensions started, attributing the positive aspects to political efforts.

Hours previous, the benchmark Korea Composite Inventory Value Index (KOSPI) hit an all-time prime, surpassing the 7,000 mark for the primary time in historical past, led through positive aspects in large tech shares.

“The stock market is very sensitive, but it has performed better than before the war,” Koo advised journalists Tuesday in Samarkand, Uzbekistan, the place he’s attending a chain of global conferences.

He added that the marketplace seems to be undoubtedly comparing the federal government’s coverage reaction to the placement surrounding Iran.

Koo additionally emphasised that each the home marketplace and the global neighborhood imagine South Korea to reply extra successfully than different nations to inflationary pressures bobbing up from the Heart East disaster.

Shopper costs in South Korea rose 2.6 % in April from a 12 months previous, pushed basically through upper gas prices associated with the battle.

The federal government mentioned value stabilization measures, together with a gas value cap and a brief gas tax reduce, decreased headline inflation through 1.2 proportion issues.

On the other hand, Koo warned that the battle, now getting into its 3rd month, additionally poses drawback dangers to the financial system.

“We will monitor and respond to the increase in diesel and gasoline prices caused by higher crude oil prices, as well as the resulting inflationary pressures,” the policymaker added.

This symbol, supplied through the Ministry of Finance, presentations Finance Minister Koo Yun-cheol in Samarkand, Uzbekistan, on Would possibly 5, 2026. (PHOTO NOT FOR SALE) (Yonhap)