Kospi Breaches 5,000 as Chip Stocks Fuel Record Rally
South Korea's benchmark index surged past the 5,000-point threshold this week, propelled by semiconductor giants Samsung Electronics and SK Hynix. The Kospi closed at 4,952.53 after touching all-time highs, marking a 20% January gain—its strongest opening month since 2018.
Samsung shares tripled to ₩154,700 while SK Hynix nearly quadrupled to ₩766,000, collectively accounting for over a third of the index's weighting. The rally lacked participation from retail 'ant' investors, with institutions driving the momentum.
The surge coincides with President Lee Jae Myung's corporate governance reforms targeting chaebol conglomerates. Market observers note parallels to Taiwan's semiconductor-driven equity boom, though Korean valuations remain below regional peers.
