South Korea’s benchmark Kospi index has broken through the 5,000 level after rising almost 20 per cent this month, as semiconductor stocks soar and corporate governance reforms take hold.
The rally is a boost for President Lee Jae Myung, who had campaigned on the need for reforms to make investing more attractive and set a target for the index to hit 5,000 during his term.
The surge has been led by chipmakers Samsung Electronics and SK Hynix, beneficiaries of the AI-driven memory chip supercycle, which represent more than one-third of the Korean market. Samsung’s shares have nearly tripled in the past 12 months to Won154,700, while SK Hynix is up almost fourfold to Won766,000.
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