economy
Korea’s Stock Market Has Doubled in 2026, and Goldman Still Sees Another 35% Upside
South Korea's stock market has already doubled this year, but some strategists say the rally may still have room to run.
TL;DR
- South Korea's stock market (Kospi) has doubled year-to-date, becoming one of the world's best-performing major indexes.
- The rally is heavily concentrated in technology giants like SK Hynix and Samsung Electronics, driven by artificial intelligence-linked chips.
- Goldman Sachs has raised its 12-month Kospi target to 12,000, projecting over 35% upside.
- Concerns exist regarding the narrow breadth of the rally, with a few large companies dominating the index.
- Underlying economic vulnerabilities in South Korea include sluggish wage growth, weak job creation, and pressure from higher energy prices.
- China is reportedly gaining market share from Korean exporters, and the broader domestic economy remains weak.
- Despite domestic concerns, global investors are focusing on AI-driven earnings growth in the region, with technology expected to be the strongest performing sector.