Ssangyong Motor

South Korean stocks jumped to their highest level in more than 10 years Thursday as foreign investors kept
up their purchases of technology and auto shares.

The Korea Composite Stock Price Index, or Kospi, rose 1.1 percent, or 11.77 points, to 1,061.93, the highest
close since 1,068.93 on Dec. 7, 1994.

"The market is showing gains in most sectors, with tech and auto shares leading the rise," said Lee Woo-
hyun, an analyst at Kyobo Securities.

Foreign investors have been net buyers for eleven consecutive sessions. Shares of major exporters including
Hyundai Motor Co., which hit a record Thursday, have been a favorite as the South Korean won has fallen
against the U.S. dollar.

Chipmaker Hynix Semiconductor Inc. surged 8.4 percent, lifting the broader benchmark index, on news Swiss
semiconductor maker STMicroelectronics NV has approached Hynix on expanding their existing alliance in the
memory-chip business.

Auto shares rose as the dollar strengthened against the won throughout most of the session.

Hyundai Motor rose 2.8 percent to a record 66,400 won (US$64; euro53).Ssangyong Motor Co. climbed 2.2
percent and Kia Motors Corp. added 1 percent.

A weaker won can make South Korean manufactured goods less expensive in overseas markets and help
increase the value of corporate profits earned abroad when converted into the South Korean currency.

Volume on the Kospi fell to 589.8 million shares valued at 3.7 trillion won (US$3.6 billion; euro3 billion).

Gainers led decliners 419 to 318 with 68 stocks unchanged. Thirteen stocks rose by the daily limit of 15
percent and three fell limit-down.

- Source from Forbes (Jul 14, 2005) -