Strategist: Korean political events could spread to peripheral markets

Commenting on the sudden political events in South Korea, Gareth Leather, strategist at Capital Economics, said, "This is really unexpected, and it's not clear what the purpose of martial law is. It's a reminder that the political system in South Korea is not as stable as many people think." While the domestic market has yet to respond, attention is sure to be on Samsung Electronics, SK Hynix, LG Energy Solutions, and South Korea's biggest stocks such as Hyundai Motor and Kia in the coming days. Potential disruption could spread beyond South Korea, where electronics companies are major players in the global battery industry. LG and SK Innovation are the world's third- and fifth-largest electric vehicle battery makers, with market shares of 16 percent and 6 percent, respectively, last year, according to EV-volumes.com.