South Korean shares, which had opened flat on Friday amid geopolitical uncertainties in the Middle East, closed the trading session slightly higher as investors sought to buy the dip later in the day.
The Korea Composite Stock Price Index, or Kospi, was up 8.02 points, or 0.31%, to close at 2,569.71. The Kosdaq also rose 6.85 points, or 0.9%, to 768.98.
In economic news, South Korea's outbound shipments of agricultural products reached a record $7.38 billion in the first nine months of 2024, driven by strong demand for instant noodles, snacks, and beverages, according to data from the Ministry of Agriculture, Food and Rural Affairs on Thursday.
Exports of Korean instant noodles, or ramyeon, surged 29.6% to a new high of $938 million.
Key markets such as the US, China, and Europe witnessed significant growth, with exports to the US jumping 20.8% and Europe up 27.4%.
In corporate news, LG Chem (KRX:051910) developed a temperature-responsive safety reinforced layer (SRL) that aims to suppress thermal runaway in batteries, the chemicals manufacturer said.
The SRL was created in collaboration with POSTECH and was verified by LG Energy Solution (KRX:373220), the company said in the release. The SRL is capable of cutting off electricity during early overheating by altering its electrical resistance. This feature will improve battery safety in high-temperature conditions.
Shares of LG Chem fell over 1% at market close.
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