South Korea’s benchmark KOSPI reached a fresh record on Monday, driven principally by a renewed buying interest in large-cap memory chip makers as investors continued to accumulate stocks tied to artificial intelligence. The index rose as much as 3.6% to an all-time peak of 8,131.15 points, extending its steep gains through the year.
Leading the advance were the country’s memory-chip heavyweights. SK Hynix (KS:000660) jumped by more than 7% on the day, while Samsung Electronics (KS:005930) climbed nearly 3%. Those moves were central to the KOSPI’s ascent, with both companies among the largest contributors to the benchmark.
The benchmark has now surged by in excess of 90% so far in 2026, reflecting concentrated strength in semiconductor-related names and investor appetite for AI-facing technology firms. Market participants cited expectations that demand for high-bandwidth memory chips - the components used in AI servers and accelerators - will remain strong, supporting valuations for memory producers.
Sentiment was also bolstered by recent strong results from Nvidia and broader optimism about global AI infrastructure spending, which together helped underpin technology shares across Asia. At the same time, reports showed South Korea’s semiconductor exports continuing to register robust growth, lending further support to the rally in chip-sector equities.
Beyond sector-specific drivers, broader risk sentiment improved amid cautious hopes for easing tensions in the Middle East and prospects for progress in U.S.-Iran talks. That cautious optimism contributed to steadier global markets and cooler oil prices, which in turn helped calm some market volatility.
While the market’s surge centered on chipmakers and AI-linked names, the gains reflected a wider preference for risk assets on the day, with investors tracking overseas market moves as they positioned portfolios. The combination of strong semiconductor export data, firm demand expectations for high-bandwidth memory, and supportive global tech momentum were cited as principal factors behind the KOSPI’s fresh high.
Market snapshot:
- KOSPI intraday high: 8,131.15 points (up as much as 3.6%).
- Year-to-date performance: Index up more than 90% in 2026.
- Notable movers: SK Hynix (KS:000660) surged over 7%; Samsung Electronics (KS:005930) rose nearly 3%.