South Korea¡¯s equity benchmark has crossed a new milestone just a month after surpassing the once-unthinkable 5,000 mark, as surging global memory demand powers the country¡¯s biggest chipmakers.
The Kospi Index advanced as much as 1.9% to a record 6,085 Wednesday morning, with Samsung Electronics Co. up 2.5% and SK Hynix shares gaining 2.1%. With the benchmark now up 44% for 2026, Korea¡¯s stock market capitalization has also moved past France¡¯s, following last month¡¯s overtaking of Germany¡¯s.
Long overlooked by foreign funds despite being undervalued, Korean stocks have now emerged as clear winners in the global market. The so-called ¡°AI scare trade¡± has proven a boon for the country, where software stocks play only a minor role and hardware manufacturers continue to drive the market higher. Corporate governance reforms have helped fuel the rally, with parliament expected to pass a bill later Wednesday requiring companies to cancel treasury shares.
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