The stocks of the Republic of Korea (ROK) closed sharply lower on Monday, with the benchmark Korea Composite Stock Price Index (KOSPI) plunging more than 5 percent to record its steepest one-day decline since November 21, 2025.
Seoul stocks tumbled 274.69 points, or 5.26 percent, to close at 4,949.67 points, with losses deepening in the afternoon session, Yonhap News Agency reported.
According to Yonhap, institutional and foreign investors led the rout, unloading shares of major semiconductor and large-cap technology firms, as concerns mounted over tighter global financial conditions following recent developments in U.S. monetary policy.
Market bellwether Samsung Electronics ended lower, while chipmaker SK hynix suffered steeper losses, alongside declines in automakers, battery makers and defense stocks.
The Korean won weakened sharply against the U.S. dollar, which was quoted at 1,464.3 won as of 15:30 local time, up from 1,439.5 won in the previous session.
ROK's KOSPI records worst 1-day drop since Nov. 2025
Iran's Foreign Minister Seyed Abbas Araghchi said Friday night that the signing of a memorandum of understanding (MoU) with the United States to end the war could take place within the next few days.
In an interview with state-run IRIB TV, Araghchi said that upon finalized, the MoU will be signed digitally by both sides in their respective countries and then announced. He added that following the potential signing, both parties will commit not to initiate any other war, and will begin the second stage of negotiations, scheduled within a 60-day period, to reach a final agreement, focusing mainly on Iran's nuclear program and sanctions removal.
He stressed that Tehran insists that the only acceptable way of dealing with its highly enriched uranium will be diluting it within Iranian territory.
Araghchi also said that the potential MoU would include provisions for ending the war on all fronts, including Lebanon, requiring Israel to withdraw from the occupied areas.
Other key issues in the MoU include the reopening of the Strait of Hormuz, the full lifting of the U.S. anti-Iran naval blockade, and the release of Iran's frozen assets, he noted.
On the Strait of Hormuz, Araghchi said its management will definitely not to return the pre-war era. While Iran will retain sovereignty and a military presence, a legal system consistent with international law will be established, he said.
He ruled out tolls for passage but noted that charging service fees will be reasonable.
U.S. President Donald Trump said Thursday that the United States had "just made a great settlement of the war with Iran," with an agreement expected "over the next few days."
Over recent weeks, Iran and the United States have exchanged several peace proposals through Pakistan's mediation, and have been working to finalize an MoU to end the war.
Iran's FM says signing of MoU with US possible within few days
