Daily Brief South Korea: Korea Stock Exchange Kospi Index, SK Bioscience , Korea Stock Exchange KOSPI 200 and more

In today’s briefing:

President Yoon’s Impeachment: Impact on Korean Capital Markets
SK Bioscience (302440 KS): New Vaccine Trial and ITD Turnaround To Improve Long-Term Outlook
Kospi Index Options Weekly (Mar 31 – Apr 4): Rising Vol, Local and Global Political Undercurrents

President Yoon’s Impeachment: Impact on Korean Capital Markets

On April 4, 2025 (KST), South Korea’s Constitutional Court formally removed former President Yoon Suk Yeol from office in accordance with the constitutional order.
This decision is expected to significantly reduce political uncertainty. However, external factors such as the U.S. government’s reciprocal tariff policies will continue to have substantial impact on Korean markets.
June’s presidential election favors government change. Global investors should watch the Democratic Party’s capital market reform proposals.

SK Bioscience (302440 KS) has initiated phase 3 trial of Sanofi-partnered pneumococcal conjugate vaccine candidate in Australia. This year, Phase 3 trial will be initiated in U.S., Korea, and EU.
This year, SK Bioscience has initiated global Phase 1/2 trials of mRNA Japanese Encephalitis vaccine candidate in Australia and New Zealand. The company aims to secure interim results by 2026.
ITD Biologika is targeting for a 17% revenue CAGR during 2024–2028. The company aims to achieve EBITDA margin of 25%+ by 2028 and become IPO ready.

Volatility percentiles are flashing red, and we explore what recent price action could signal for the week ahead.
Implied vol rose meaningfully, approaching historical extremes, with more pressure likely as the week begins.
Options hedge adjustments are discussed following a strong move in both price and vol.

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