A level once dismissed as out of reach became reality as South Korea’s benchmark KOSPI pushed past 7,000, extending a streak of record-setting gains despite external headwinds including war in the Middle East and worries about a global slowdown.
According to the Korea Exchange, the KOSPI opened on May 6 at 7,093.01, up 156.02 points (2.25%) from the previous session, marking the first time it crossed 7,000. The move came just 47 trading sessions after it first topped 6,000 intraday on Feb. 25. The index has been breaking through higher levels faster as it climbs.
It took 18 years and four months for the KOSPI to rise from 1,000 to 2,000 (March 1989 to July 2007). It then took 13 years and five months to move from 2,000 to 3,000 (July 2007 to January 2021), and four years and nine months to reach 4,000 (January 2021 to October 2025). By contrast, it cleared 5,000 in three months and 6,000 in about a month.
The KOSPI’s gains also outpaced major global markets. Investing.com data showed the KOSPI posted a 186.39% return over the past year, the highest among major global indexes. Taiwan’s TAIEX rose 98.11%, South Korea’s KOSDAQ gained 66.21%, and Japan’s Nikkei 225 advanced 61.81%.
The market’s size has surged as well. The KOSPI’s market capitalization reached a record 6,058 trillion won on May 6, nearly triple the roughly 2,107 trillion won level a year earlier. Large-cap chipmakers dominated: Samsung Electronics was valued at 1,555 trillion won and SK hynix at 1,141 trillion won, for a combined 2,696 trillion won — about 44.3% of the KOSPI’s total market cap.
Exchange-traded funds, another driver of the rally, expanded quickly. The number of ETFs listed on the KOSPI rose to 1,099 from 973 a year earlier, and their market value climbed to 452 trillion won, topping 450 trillion won for the first time. That was more than double the 192 trillion won recorded a year earlier.
More stocks have been setting new highs. As of the May 4 close, 76 stocks — including preferred shares — had hit 52-week highs over the past year based on closing prices. On a trade-price basis, 55 stocks did so.
Investor money has also flowed in. The Korea Financial Investment Association said the number of active stock-trading accounts stood at 105.22 million as of May 4, up about 17% from 89.92 million a year earlier. Investor deposits, a measure of cash waiting to enter the market, jumped to 125 trillion won from 56 trillion won over the same period.
* This article has been translated by AI.
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