South Korea's Stock Market Surpasses Canada, Ranks Seventh Globally
by SHIN DONGKUNPosted : May 7, 2026, 23:14Updated : May 7, 2026, 23:14
The KOSPI index closed at a record high of 7,490.05 on May 7 at Hana Bank's main dealing room in Seoul. [Photo=Yonhap News]
South Korea's stock market has risen to the seventh largest in the world by market capitalization, surpassing Canada. Just ten days after overtaking the UK for eighth place, the KOSPI index has climbed significantly, driven by gains from semiconductor giants Samsung Electronics and SK Hynix.
According to Bloomberg, as of June 6, South Korea's market capitalization reached approximately $4.59 trillion, edging past Canada's $4.5 trillion. On April 27, the market capitalization was recorded at $4.04 trillion, allowing South Korea to surpass the UK.
Only six countries now have larger market capitalizations than South Korea: the United States ($77.08 trillion), China ($15.27 trillion), Japan ($8.33 trillion), Hong Kong ($7.47 trillion), India ($5.1 trillion), and Taiwan ($4.67 trillion).
The KOSPI index has surged 77.7% this year, exceeding last year's impressive growth of 75.5%. This marks the first time since the 1980s that the KOSPI has seen back-to-back years of over 70% growth.
The surge in the KOSPI is largely attributed to the semiconductor sector. Since mid-April, Samsung Electronics and SK Hynix have consistently reached record highs, boosting the overall market capitalization.
Expectations for further ranking improvements are rising. The KOSPI jumped 5.12% on May 4 and 6.45% on June 6, closing at a new high of 7,490.05. Samsung Electronics rose 2.07% to 271,500 won, while SK Hynix increased by 3.31% to 1,654,000 won. Together, these companies account for 45% of the KOSPI's total market capitalization, valued at 1,587 trillion won and 1,179 trillion won, respectively.
Han Ji-young, a researcher at Kiwoom Securities, noted, "The pace of profit improvement is significantly outpacing stock price increases. The consensus for KOSPI's operating profit in 2026 is projected at 124.2%, exceeding the expected stock price growth during the same period." She added that with foreign investors recording net purchases of 6 trillion won since May, the momentum for further gains in the KOSPI, particularly in leading sectors like semiconductors, remains strong.
