Aftermarket Launches with 1.8 Trillion Won in Trading; Focus on Optoelectronics

The Korea Exchange's aftermarket concluded its first trading day with significant activity, particularly in optoelectronics and light electronics. On September 14, the aftermarket recorded trading volumes of 13.25 trillion won in the KOSPI market and 4.925 trillion won in the KOSDAQ market, representing 6.5% and 8.9% of regular market levels, respectively. Trading volumes were also notable, with the KOSPI market at 8.1% and the KOSDAQ at 8.0% compared to regular market activity.

In terms of individual stocks, optoelectronics led the KOSPI market with approximately 28.97 million shares traded, followed by Samsung Electronics, SM Vexcel, Hunga Shipping, and Hyundai Pharmaceutical. In the KOSDAQ market, light electronics topped the list with around 80.46 million shares, with Dream Security, Kosnine, Xgate, and Samik Pharmaceutical also among the most traded. Samik Pharmaceutical saw a 19.85% increase, while Korea BNC and light electronics rose by over 12%.

The aftermarket operates from 4 PM to 8 PM, allowing real-time trading after regular market hours. The overlap with the alternative exchange Next Trade (NXT) has intensified competition for liquidity post-market closure. Lee Kyung-min, a researcher at Daishin Securities, noted that the expansion of trading demand and competition for liquidity with NXT will be key factors moving forward.

The Lee Jae-myung administration has initiated efforts to restore shuttle diplomacy with Japan to improve bilateral relations; however, historical perception issues continue to pose significant challenges. A UNESCO publication marking the 75th anniversary of Japan's membership includes sites related to forced labor of Koreans, such as the 'Meiji Industrial Revolution Heritage' and Sado Mine, but fails to mention the historical context of forced mobilization. The Japanese government has not adequately fulfilled its commitment to provide explanations regarding the forced mobilization of Koreans during the registration of the industrial heritage, prompting the South Korean government to hold separate memorial services for the victims of Sado Mine.

In his Liberation Day speech, President Lee emphasized the achievements of shuttle diplomacy and cooperation in supply chains, energy, and advanced industries between the two countries, while also urging Japan to confront its past and empathize with the pain of victims and their families. However, tensions surrounding historical perceptions persist, particularly following Japanese Prime Minister Sanae Takaichi's actions related to the Yasukuni Shrine. The government faces the challenge of continuing practical diplomacy with Japan in economic and security areas, separate from historical issues.

Political circles have raised concerns that President Lee's current approach to Japan may be seen as contradictory, given his previous criticisms of the former Yoon Suk-yeol administration's diplomacy with Japan as 'humiliating.' Kim Seok-ki, a member of the National Assembly from the People Power Party, pointed out during a parliamentary session that the Lee administration is continuing the shuttle diplomacy framework established by the Yoon administration. Choi Eun-mi, a researcher at the Asan Institute for Policy Studies, emphasized the need for a phased strategy to stabilize Korea-Japan relations while ensuring South Korea's national interests are upheld.

On September 14, President Lee Jae-myung met with Kanda Masato, President of the Asian Development Bank (ADB), to discuss expanding cooperation in key mineral supply chains, artificial intelligence (AI), and energy sectors across the Asia-Pacific region, including Central Asia. President Lee proposed combining South Korea's technological capabilities with ADB's development and financial expertise to enhance opportunities for domestic companies abroad.

He highlighted Central Asia's rich resources and geographical advantages, stressing the need for strengthened cooperation between South Korea and ADB to stabilize key mineral supply chains, particularly with countries like Uzbekistan. President Kanda responded that the key mineral supply chain is a priority area for ADB's support and expressed a desire to collaborate with South Korea, which has industrial capabilities.

Both sides agreed to expand cooperation in AI and energy infrastructure. President Lee suggested leveraging South Korea's AI capabilities alongside ADB's development expertise to achieve results in the Asia-Pacific region. They also discussed utilizing South Korea's technology and experience in energy infrastructure projects, such as the ASEAN Power Grid and financing for nuclear power. President Kanda praised South Korea's economic achievements and President Lee's leadership in AI and digital fields, wishing for the success of the upcoming first Korea-Central Asia summit on September 16.

On September 14, U.S. Ambassador to South Korea Michelle Steel met with Deputy Minister of Foreign Affairs Kim Jin-ah to discuss the implementation of agreements outlined in the joint fact sheet from the recent U.S.-South Korea summit. Ambassador Steel shared on X (formerly Twitter) that they had a meaningful conversation regarding the implementation of the agreements contained in the joint fact sheet.

The discussions likely covered issues related to U.S. investment, the construction of nuclear-powered submarines, and the enrichment and reprocessing of nuclear fuel, as outlined in the joint fact sheet released last November. South Korea has committed to a total investment of $350 billion in the U.S., including $150 billion in shipbuilding cooperation and $200 billion in strategic investments, with the first U.S. investment project nearing completion.

Deputy Minister Kim noted that he had met with Ambassador Steel for the first time on September 11 and expressed hopes for fostering communication and cooperation between the two countries. Ambassador Steel has also met with Foreign Minister Park Jin, First Vice Minister of Foreign Affairs Park Yoon-joo, and Director General Jeong Yeon-du of the Ministry of Foreign Affairs, continuing discussions on U.S.-South Korea issues with Minister of Trade and Industry Lee Chang-yang and Minister of National Defense Kang Ki-young.

Iranian President Masoud Pezeshkian expressed outrage after learning that the military unilaterally attacked three commercial vessels in the Strait of Hormuz in July. The New York Times reported that Pezeshkian directly contacted Ahmad Vahidi, the commander of the Islamic Revolutionary Guard Corps, to criticize the attack as a "reckless act." Vahidi reportedly stated that he had not approved the attack and had not received prior notification.

Iranian officials explained that field commanders acted independently, following orders to attack vessels that violated the leadership's directive without obtaining approval. Following the U.S. resumption of attacks on Iran on July 8, existing agreements between the two countries were effectively nullified, leading to intensified internal conflicts within Iran's leadership regarding accountability for the attacks on commercial vessels and responses to the U.S. actions. Some generals have expressed intentions to resign, and there have been discussions about restructuring the Supreme National Security Council (SNSC).

The New York Times characterized this incident as a setback for Iran's pragmatic factions, which had sought to ease hostilities with the U.S. and promote economic recovery. As military tensions with the U.S. have escalated again, confrontations between the two sides continue. Hardliners within the Revolutionary Guard have proposed expanding attacks on regional energy infrastructure as part of a war plan, while President Pezeshkian and Parliament Speaker Mohammad Bagher Ghalibaf have reportedly opposed military escalation due to concerns over additional U.S. airstrikes and economic pressures.



* This article has been translated by AI.

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