South Korean stocks fell more than 2% on Friday for the third consecutive trading day, with a weekly decline of 1.7%.

With the increasing uncertainty of the trade negotiations with Washington, the South Korean stock market fell more than 2% on Friday, marking the first weekly decline in five weeks. The KOSPI Composite Stock Price Index closed down 85.06 points, or 2.45%, at 3,386.05 points, the largest single-day drop since August 1. The KOSPI Index fell 1.72% for the week. South Korea's trade negotiations with the Trump administration have been increasingly troubled by political concerns this week. Lee Kyoung-min, an analyst at Daishin Securities, said, "Due to signs of a prolonged trade negotiation, the performance of the domestic market in South Korea is lagging behind other Asian markets." After US President Trump announced a 100% tariff on imported pharmaceutical products, Samsung Biologics, a pharmaceutical company, fell by 2.15%. Competitor Celltrion, on the other hand, rose by 0.06% as the company has acquired a manufacturing facility in the United States. Among other index heavyweights, chip manufacturer Samsung Electronics fell by 3.25%, while competitor SK Hynix declined by 5.61%. Battery maker LG Energy Solution dropped by 3.46%. Hyundai Motor and Kia Motors fell by 1.15% and 1.76% respectively. Posco, a steelmaker, fell by 2.14%.