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Finance

KOSPI breaks above 7,900, sets new record high

South Korea's KOSPI broke above the 7,900 level early on Monday and held in the 7,900s, after settling into the 7,800 range a day earlier. At 9:19 a.m., the index was up 108.92 points, or 1.39 percent, at 7,931.16. Retail and institutional investors were net buyers, while foreigners were net sellers for a fourth straight session. The won weakened against the dollar.

Mobility

Kakao Mobility expands 'Road Heroes' awards to general public

Kakao Mobility Co's Kakao Mobility Foundation for Shared Growth is expanding the award scope of its social contribution campaign, 'Road Heroes', to include the general public. The campaign had previously been limited to mobility workers such as taxi, bus and designated drivers. Anyone can recommend acts of kindness via the official website, with winners receiving prize money and a plaque after screening. A story submission event runs through May 31, alongside collaborations including illustrator Kikeuny and a YouTube channel.

Finance

South Korea stock market capitalisation ranks sixth worldwide, overtakes Taiwan

South Korea’s stock market rose to sixth in the world by market capitalisation as a sharp rally continued. Bloomberg data showed the KOSPI at about $4.22 trillion and the KOSDAQ at about $448.3 billion, taking the combined value to about $4.66 trillion. Taiwan’s TAIEX stood at about $4.33 trillion. South Korea’s combined market value is up 78 percent this year, outpacing Taiwan’s rise.