Expected trade agreement between the US and South Korea is expected to drive the South Korean stock market to a four-year high.

The South Korean stock market climbed to its highest level in nearly four years on Wednesday, led by major exporters, as the market remained optimistic about trade negotiations between South Korea and the United States ahead of the August 1 deadline for additional tariffs. The benchmark Korea Composite Stock Price Index rose 20.35 points, or 0.63%, to 3,250.92, hitting its highest level since August 2021. South Korea said on Wednesday that three cabinet-level officials met with U.S. Commerce Secretary Howard Ratney in Washington to push for a trade agreement. Ahead of the August 1 deadline, South Korea had a positive confrontation with this key U.S. official known for pushing tough negotiations. In heavyweight stocks, Samsung Electronics rose by 2.55%, after signing a $16.5 billion chip supply deal earlier this week with U.S. electric car maker Tesla. Peer SK Hynix held steady. Battery maker LG Energy Solution remained flat, after the company signed a $4.3 billion contract to supply lithium iron phosphate batteries for Tesla's energy storage systems. Meanwhile, Samsung SDI and SK Innovation surged by 7.54% and 6.28% respectively. Hyundai Motor and its sister company Kia Motors also rose by 1.61% and 2.37% respectively.