KOSPI Tops 7,000 as Samsung Hits $1 Trillion on AI Chip Demand

South Korea’s KOSPI closed at a record 7,384.56 on Wednesday, rising 6.45% for the session. The benchmark topped 7,000 for the first time as gains in semiconductor stocks drove the advance.

Samsung Electronics rose 14.4%, lifting its market capitalization above $1 trillion. Rival chipmaker SK Hynix climbed 10.6% to a fresh high. Together, the two companies represent about 44% of the KOSPI’s total market value.

The index has gained roughly 75% year to date, after a 76% increase in 2025 that was its strongest annual rise since 1999. The semiconductor sector led the move, with buying concentrated in chip manufacturers and related suppliers listed in Seoul.

Market participants attributed buying to strong global demand for artificial intelligence hardware, which has increased orders for memory chips and other components used in AI systems. Traders pointed to expectations of higher revenue for large-cap technology companies in coming quarters.

Domestic economic data also supported sentiment. South Korea’s manufacturing purchasing managers index rose to 53.6 in April, the highest reading since February 2022, and exports increased for an 11th consecutive month in April.

Investor positioning around Korea-focused funds intensified. Notional open interest in call options on the iShares MSCI South Korea ETF reached a record $5.5 billion last week, while net inflows into the fund totaled about $6.3 billion year to date. The ETF has gained 68% in 2026 and about 181% over the past 15 months.

Easing tensions between the United States and Iran also supported risk appetite across regional markets, helping lift equities beyond technology names.

Analysts warned that the KOSPI’s gains are concentrated in a small number of large companies, and that the index’s heavy weighting in those names can magnify moves if investor sentiment changes.