South Korean shares closed lower on Thursday amidst a sell-off in technology stocks, while investors brace themselves for the possibility of the US Federal Reserve pausing interest rate cuts next month.

The Korea Composite Stock Price Index or Kospi fell by 61.9 points, or 1.5%, to end at 3,994.51. The Kosdaq also fell by 9.74 points, or 1.1%, to close at 901.33.

In corporate news, shares of NRB (KOSDAQ:475230) were down nearly 7%, as it signed a 9.34 billion won contract to manufacture and install modular housing for an Army unit in Yanggu, Gangwon province.

The fixed-price deal covers the production, transport and on-site installation of prefabricated accommodation, including 80 residential rooms and 10 shared rooms. The contract runs from Dec. 18, 2025, to Oct. 30, 2026, with payments made based on work progress.

Meanwhile, Wavus (KOSDAQ:336060) signed a 7.14 billion won contract to provide information infrastructure maintenance services for Korea Land and Housing Corp. (LH) from January 2026 through December 2028, according to a Thursday filing on the Korea Exchange (KRX).