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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