South Korean stocks rebounded after a big dump, with the market hoping for the government to revise the tax increase proposal.

Jin10 data reported on August 4th that South Korea's benchmark KOSPI index closed up 0.91% on Monday, reaching 3147.75 points. Among 935 stocks, 678 rose and 212 fell. Foreign investors net bought 83.3 billion won worth of stocks. Last Friday, the index fell by 3.9%, marking the largest single-day drop since early April. Currently, investors are increasingly optimistic that the South Korean government may revise the proposed tax increase, which triggered a big dump in the market last week. Last week, a spokesperson for the South Korean president downplayed concerns, stating that the significant market drop was unlikely to have been caused by the proposal to raise the stock investment tax. However, according to local media reports, the ruling party's Democratic Party leader stated on Monday that in response to investor criticism, the party will reconsider the proposed measures.