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The Economic Times

Anupam Nagar

Global Market: KOSPI drops over 1% as Samsung Electronics slumps on payout concerns

Samsung LG Energy Solution SK Hynix

South Korean shares fell more than 1% on Monday, weighed down by a sharp decline in Samsung Electronics after the chipmaker’s latest shareholder return plans fell short of market expectations, Reuters reported.

The benchmark KOSPI was down 90.29 points, or 1.31%, at 6,822.66 as of 0126 GMT. Samsung Electronics dropped 6.31% after the company said last week that shareholder returns this year could reach up to 110 trillion won ($79.55 billion). Analysts viewed the potential payout as lower than expected.

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