Seoul:South Korea's stock market operator activated a circuit breaker for the Korea Composite Stock Price Index (KOSPI) on Thursday due to a significant sell-off in technology shares. Trading of KOSPI-listed stocks was paused for 20 minutes from 1238 p.m. after the index fell over 8% compared to the previous session's close.
According to Yonhap News Agency, the halt was triggered by an extended decline in tech stocks, reflecting the volatility and pressures in the market.
In a separate development, U.S. Forces Korea Commander Gen. Xavier Brunson highlighted changes in conditions for the transfer of wartime operational control (OPCON) from the United States to South Korea. Speaking at the Indo-Pacific Summit in Washington, he emphasized the new standards arising from these altered circumstances.
Meanwhile, North Korea announced it conducted tests of two types of submarine-launched strategic cruise missiles in the East Sea. The tests aimed to evaluate the readiness of underwater combat systems and enhance the Navy's strategic capabilities, as reported by the Korean Central News Agency.
Additionally, U.S. President Donald Trump reiterated that South Korea will invest $50 billion in an Alaskan liquefied natural gas project as part of a trade and investment deal with the U.S., despite uncertainties regarding Seoul's involvement.
In space-related news, a constellation of five South Korean microsatellites successfully sent its first images to a ground station within a day of being launched on the Nuri space rocket. The Korea AeroSpace Administration reported that the images were transmitted 14 hours and 29 minutes after liftoff from the Naro Space Center.