South Korean stocks reached a fifth consecutive record high on Tuesday, with the primary index closing up more than 1% due to strong performance by chip stocks and increased foreign investment. Shares of major market movers Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) jumped nearly 4% and over 5% respectively at market close.

The Korea Composite Stock Price Index or Kospi rose 42.31 points, or 1.24%, to end at 3,449.62. The Kosdaq declined by 0.85 points, or 0.1%, to close at 851.84.

In economic news, South Korea's export price index, measured in Korean won, fell 1% year on year in August, while the import price index decreased 2.2%, the Bank of Korea reported Tuesday.

On a month-on-month basis, the export price index and the import price index increased 0.7% and 0.3%, respectively, the South Korean central bank said.

The net barter terms of trade index rose 2.9% on-year during the month.

In corporate news, GS Engineering & Construction (KRX:006360) secured a 348.2 billion won contract for the Osan Naesam-dong District A1 Block apartment new construction project.

The contract represents 2.71% of the company's 2024 sales, the construction company said in a Tuesday filing with the Korea Exchange.

Shares of GS Engineering & Construction rose nearly 1% at market close.