Korean stock market trends shifted noticeably in the month following US-Israeli air strikes on Iran, according to recent bourse data. While defense stocks experienced gains in market capitalization on the KOSPI (Korea Composite Stock Price Index), auto and shipbuilding shares saw a decline.
The Korea Exchange data revealed that Samsung Electronics Co. continues to lead in market capitalization, holding a value of 1,063.8 trillion won ($705 billion) as of Friday. SK hynix Inc. followed in second place with a market capitalization of 657.1 trillion won.
Hyundai Motor Co., a leading South Korean automaker, held its position as the third-largest company by market cap. However, its market value decreased by 26.6 percent to 101.3 trillion won between Friday and Feb. 27, the day before the escalation of military conflict in the Middle East. This decline is attributed to prolonged regional tensions disrupting global supply chains and causing a rise in oil prices.
Kia, Hyundai’s sister company, fell two positions to ninth place, experiencing a 24.2 percent drop in its market capitalization during the same period.
Major shipbuilder HD Hyundai Heavy Industries Co. also witnessed a decline in its market value, falling by 17.3 percent and dropping from ninth to eleventh place.
In contrast, Hanwha Aerospace, a prominent defense company, saw its market capitalization increase by 11.7 percent to 68.8 trillion won, up from 61.6 trillion won over the specified period. This growth propelled the company’s ranking upward by three positions to seventh place.
