Korean stocks have extended an unprecedented rally despite uncertainties stemming from the Middle East conflict, with the benchmark KOSPI soaring from the 2,000-point range to above 8,000 within a year of President Lee Jae Myung taking office. The KOSPI’s gains this year, the strongest among major G20 economies, have been driven largely by a global semiconductor supercycle fueled by rising artificial intelligence (AI) demand, which sharply boosted earnings at Samsung Electronics and SK hynix, alongside the government’s market value-up and stock market revitalization policies. The KOSPI closed at 2,770.84 on June 4, 2025, the day Lee took office. Less than a year later, the index finished at 8,047.51 on Tuesday, surpassing the 8,000 milestone on a closing basis for the first time after briefly topping the level intraday on May 15. Data released by business tracker CEO Score on May 13 showed that the combined market capitalization of Korean listed firms surged to 7,088 trillion won ($4.68 trillion) as of May 11, marking a 172.9 percent jump from 2,597 trillion won recorded on June 2,
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