
AI-generated summary
The Federal Reserve implemented its first interest rate increase in over three years, raising rates by 0.25 percentage points to combat inflationary pressures.
SEOUL, Sept. 17 (Yonhap) -- Seoul stocks opened higher on Thursday, led by gains in tech stocks, despite the Federal Reserve's first rate hike in over three years.
The benchmark Korea Composite Stock Price Index (KOSPI) opened up 61.05 points, or 0.91 percent, to 6,779.02.
Overnight, major stock indexes on Wall Street closed down, after the Fed delivered the first quarter-percentage point rate increase since 2023, to combat inflationary pressures.
The Fed raised its base rate by a quarter percentage point to a range of 3.75 percent and 4 percent.

Enhance announced on the 17th that it had attracted KRW 51.2 billion in Series C investment jointly led by Timefolio Asset Management and Stone Bridge Ventures, reaching a cumulative investment of KRW 81 billion. IMM Investment and Stick Ventures participated as new investors, and POSCO Technology Investment, LG CNS, and Lotte Ventures also joined as strategic investors. Enhance plans to use this investment to advance Agent OS's data, process, and execution infrastructure and expand its global business.

The Bank of Korea is expected to face increasing pressure to raise its benchmark interest rate following the US Federal Reserve's first rate hike in over three years, which widened the interest rate gap between South Korea and the United States to up to 1 percentage point. Analysts cite persistent inflation, strong economic growth, high household debt, and rising housing prices in Seoul as factors that may prompt the BOK to hike rates later this year, possibly in November.

SK Hynix announced that it will hold a 'ThanksFULL Day' gratitude event at Seoul Land in Gwacheon, Gyeonggi-do on the 15th of next month, inviting a total of 30,000 people, including 8,000 members of major partners and their families. At the event, an experiential program for the whole family, provision of a kids' goods set for children, a direct welcome from management, and a thank you note from the CEO are planned. In addition, shared growth activities through technological, financial, and management support of partners and plans for early payment of win-win funds were also mentioned.

The Asan Nanum Foundation will hold the 15th '2026 Chung Ju-young Startup Competition at COEX Auditorium in Seoul on October 28. This year's theme is 'Infinite', and 15 teams will compete for a total prize money of 370 million won.

Korea Investment & Securities reported that the won/dollar exchange rate has risen to 1,377 won since the FOMC in September, but this is not a trend reversal, and while pressure on the strong dollar continues, upward pressure will remain high until the midterm elections in November. It was revealed that upper resistance is expected around 1,400 won, but it is difficult to predict if geopolitical conflict worsens.

The court suspended the effect of the price re-determination order issued by the Fair Trade Commission to printing paper manufacturers and milling companies as a collusion sanction. The Seoul High Court accepted the paper companies' request to suspend execution, and the Fair Trade Commission plans to appeal again.