Goldman Sachs raises South Korea's Kospi target to 9,000
Updated
Updated · Business Insider · May 8
Goldman Sachs raises South Korea's Kospi target to 9,000
10 articles · Updated · Business Insider · May 8
The bank called South Korea its highest-conviction Asian market, lifting its 12-month target from 8,000 as the index trades near 7,400 after rising about 77% this year.
Goldman said AI-driven demand and supply shortfalls in DRAM and NAND are pushing memory prices higher, benefiting Samsung Electronics and SK Hynix and supporting forecasts of 300% earnings growth in 2026.
The rally has made the Kospi one of the world's best-performing markets, more than tripling since early 2025, as AI spending and Seoul's governance reforms help narrow the longstanding Korea discount.
Is South Korea's market rally a structural shift or the biggest semiconductor bubble in history?
Caught between US restrictions and Chinese demand, can South Korea’s chip dominance last?
Goldman Sachs Raises KOSPI Target to 8,000 by April 2027 Amid Semiconductor Surge and Governance Reforms
Overview
Goldman Sachs has set a revised 12-month KOSPI target of 8,000 points as of April 2026, driven by a strong surge in corporate earnings, especially in the semiconductor sector fueled by AI chip demand. This optimistic outlook is supported by a significant valuation gap, ongoing corporate governance reforms, and renewed foreign investor interest. However, the market faces risks from its heavy reliance on semiconductors, geopolitical tensions, and global economic uncertainties. While the KOSPI has shown remarkable growth recently, these vulnerabilities highlight the need for diversification and careful risk management to sustain long-term gains.