'Unstoppable' KOSPI Surges Past 4,500 for the First Time... Sets Sights on 5,000

The KOSPI has set another record by surpassing the 4,500 mark for the first time in history.

On the 6th, the KOSPI index turned to an intraday rise and surpassed the 4,500 mark for the first time ever. The status board in the dealing room of Hana Bank in Jung-gu, Seoul, displays the KOSPI index and other information. Photo by Yonhap News

At around 1:44 p.m. on January 6, the KOSPI was trading at 4,502.04, up 44.52 points (1%) from the previous day, breaking through the unprecedented 4,500 level. This marks the third consecutive trading day of all-time highs since the first trading day of the new year.

Earlier in the session, the KOSPI started lower due to foreign investors taking profits, even dipping below the 4,400 mark at one point. However, the index reversed course and turned upward as individual and institutional investors stepped in with strong buying. While foreign investors sold more than 1 trillion won, individuals and institutions bought a net 809.6 billion won and 121.5 billion won, respectively, supporting the index. In the KOSPI 200 futures market, individuals and institutions also bought a net 23.5 billion won and 225.9 billion won, respectively, while foreigners sold 241.7 billion won.

Most of the top KOSPI market cap stocks are showing strength. While Samsung Electronics, ahead of its earnings announcement, remained flat as investors took a wait-and-see approach, SK Hynix rose more than 3%, helping to drive the index higher. Other gainers include HD Hyundai Heavy Industries (up 6.43%), SK Square (up 4.09%), Doosan Enerbility (up 2.04%), and LG Energy Solution (up 1.35%).

With the KOSPI surging rapidly since the start of the year, securities firms are racing to raise their forecasts for this year. Han Ji-young, a researcher at Kiwoom Securities, said, "The combination of foreign inflows and profit momentum is the fundamental driver of this rally," adding, "It is appropriate to keep the upper end of the KOSPI open to 5,200 and respond to this bull market accordingly." She projected the annual KOSPI index range to be between 3,900 and 5,200.

Experts broadly agree that profit momentum, especially in semiconductors, could prove even stronger than expected. The current 2026 operating profit consensus for Samsung Electronics and SK Hynix stands at 98 trillion won and 85 trillion won, respectively, representing increases of 112% and 79% compared to the end of September last year.

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Kim Yonggu, a researcher at Yuanta Securities, said, "The ongoing upward revisions to earnings expectations for the semiconductor sector are a direct reason for changes in the 2026 KOSPI outlook," adding, "The Korean stock market has never seen annual operating profits exceed 300 trillion won, but this unprecedented earnings-driven rally could become a reality through semiconductors." He adjusted this year's KOSPI outlook band to 4,200 to 5,200.