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Finance

KOSPI closes at record high of 7,844

South Korea\'s KOSPI opened lower on Tuesday but turned higher during the session and ended in the 7,800s, setting a record closing high. The benchmark rose 200.86 points, or 2.63 percent, to 7,844.01. Foreign investors net sold 3.72 trillion won as the dollar-won rate climbed to the 1,490 won range, while individuals and institutions bought. Auto and chip shares led gains.

Industry

Samsung Electronics tops parents\' stock gifts to minor children, Kia second

Samsung Electronics was the most-gifted domestic stock from parents to their minor children last month, accounting for more than half of all gifts, according to KB Securities data from its stock-gifting service. Samsung took 56.3 percent by transaction count, with Kia second at 6.5 percent. Other frequently gifted names included Kakao, HLB and EcoPro BM. The top 10 gifted stocks all posted gains last month, with SK Hynix up 59.4 percent.

Industry

Ecopro BM Q1 operating profit 20.9 billion won up 823 percent on year

Ecopro BM posted first-quarter operating profit of 20.9 billion won, up 823 percent from a year earlier, while revenue fell 3.9 percent to 605.4 billion won, the company said on Tuesday. It cited recovering European EV volumes and expanding demand for energy storage systems. Net profit turned positive at 12.2 billion won. The company is preparing to begin mass production at its cathode plant in Debrecen, Hungary, in the first half.