Kospi Plunges 6% From 8,000 as Samsung Drops 8.6% on 18-Day Strike Plan
Updated
Updated · CNBC · May 15
Kospi Plunges 6% From 8,000 as Samsung Drops 8.6% on 18-Day Strike Plan
6 articles · Updated · CNBC · May 15
South Korea’s Kospi closed down more than 6% at 7,493.18 after topping 8,000 earlier, while the Kosdaq lost more than 5% to 1,129.82.
Samsung Electronics sank 8.6% after its union said an 18-day strike from May 21 would proceed with more than 4,500 workers, and SK Hynix fell 7.6%.
Manulife data underscored concentration risk: Samsung and SK Hynix now account for a record 42.2% of the Kospi, amplifying the sell-off in AI-linked heavyweights.
Across Asia, Japan’s Nikkei fell 2%, Hong Kong’s Hang Seng dropped 1.6% and China’s CSI 300 lost 1.12% as investors watched Trump-Xi talks in Beijing.
The broader risk-off move also hit metals, with spot gold down 1.43% to $4,583.02 and silver off more than 5%, even as U.S. futures were little changed after Wall Street records.
Why are U.S. markets soaring to new highs while Asian markets tremble over the same geopolitical news?
Can U.S.-China trade deals truly safeguard the fragile global tech supply chain that hinges on Taiwan?
Is China's new legal arsenal for trade control a greater threat to global stability than its military posturing?
Kospi Surges to Record Highs Amid AI Boom: Market Outlook, Geopolitical Risks, and the Path to 8,000
Overview
On May 14, 2026, the Kospi index reached record highs, driven by strong market optimism and expectations of robust earnings growth. This positive sentiment is fueled by Korea’s industrial strengths in semiconductors, power, and robotics, which are well positioned for the global expansion of artificial intelligence infrastructure. Experts believe the Kospi still trades at a discount compared to other Asian markets, suggesting more growth ahead as AI development continues worldwide. However, not all sectors benefited equally, as some, like shipbuilding and power equipment, saw declines due to profit-taking, highlighting selective gains within the market’s overall upward trend.