Seoul Stocks Surge as Trump Withdraws Hormuz Cargo Fee

The South Korean stock market experienced a significant recovery on July 15, 2026, with the KOSPI index climbing over 6% by late morning. This rally was driven by surges in semiconductor stocks, including Samsung Electronics and SK hynix, which saw gains of over 6% and 11% respectively. The rebound followed a previous 8.95% plunge triggered by a technology stock sell-off.

Donald Trump contributed to the shift in investor sentiment by withdrawing a proposal to impose a 20% reimbursement fee on cargo passing through the Strait of Hormuz. Trump announced he would replace the fee, which he had introduced only one day prior, with trade and investment deals with Middle Eastern nations.

The market gains were further supported by a U.S. Labor Department report showing that consumer prices fell more than expected in June. This data eased inflation concerns and reduced the likelihood of interest rate hikes, prompting bargain hunting in technology stocks on Tuesday. Despite the rally, overall market upside remained tempered by rebounding crude oil prices and ongoing tensions between the United States and Iran.