The KOSPI index, which was rising early in the session, reversed its trend after the Democratic Party of Korea stated on the 24th that it would initiate impeachment proceedings against Kang Duck-soo, the acting president and prime minister.
As of 11:35 a.m. on that day, the KOSPI index recorded a drop of 4.66 points (0.19%) to 2,437.35 compared to the previous trading day. Earlier, the KOSPI index opened at 2,452.85, up 10.84 points (0.44%) compared to the previous close. However, following the announcement of impeachment measures against the prime minister, it fell to around 2,432.42 at approximately 10:15 a.m., but has since slightly reduced its losses. Individuals have made a net purchase of 107.7 billion won, while foreigners and institutions have made net sales of 88.7 billion won and 61.4 billion won, respectively.
The top stocks by market capitalization on the securities market are generally showing a downward trend. SK Hynix, LG Energy Solution, Samsung Biologics, Hyundai Motor, Celltrion, Kia, and KB Financial are declining. Samsung Electronics and NAVER are rising.
The KOSDAQ index continues to rise. The KOSDAQ index is trading at 680.55, up 1.31 points (0.19%) from the previous trading day. Individuals and institutions are making net purchases of 43.9 billion won and 26.1 billion won, respectively, while foreigners are net selling 51.1 billion won.
The top 10 stocks by market capitalization in the KOSDAQ market generally turned red. Alteogen, Ecopro BM, HLB, Ligand Pharmaceuticals, Hugel, Classys, Lino Industry, and Enchem are rising. Ecopro and Samchundang Pharmaceutical are declining.
On that day, Park Chan-dae, the Democratic Party’s floor leader, said at a Supreme Council meeting held at the National Assembly, “We will immediately initiate impeachment proceedings against acting President Kang Duck-soo.”
The Democratic Party stated at a press conference the day before (on the 23rd) that they would hold Kang responsible if he did not announce the special prosecutor law (the insurrection special prosecutor law, the Kim Keon-hee special prosecutor law) by that day. However, the government did not put the special prosecutor law on the agenda during the Cabinet meeting on that day.
Floor leader Park noted, “Today is the last deadline given to Prime Minister Kang Duck-soo,” adding, “However, Prime Minister Kang clearly stated that he would not announce the special prosecutor law during the Cabinet meeting today,” indicating that the impeachment process against the prime minister would begin.