KOSPI Nears 6,000 Points...Top Performer Globally in Gains

KOSPI up 40% this year, topping major stock markets worldwide
Upgraded semiconductor earnings and market?support measures fuel expectations of further gains

The KOSPI index rose 94.58 points from the previous trading day to surpass the 5,900 level for the first time in history, and the status of the domestic stock market was displayed on the electronic board in the Hana Bank dealing room in Jung-gu, Seoul on Feb. 23, 2026. The won-dollar exchange rate opened at 1,443 won per US dollar, down 3.6 won from the previous trading day. Kang Jinhyung, Reporter

With the KOSPI index now on the verge of reaching 6,000 points, its gain so far this year has emerged as the clear No. 1 among major global stock markets. As the boom in memory semiconductors continues and the government is strongly committed to supporting the stock market through measures such as mandating the retirement of treasury shares, securities firms are steadily raising their KOSPI forecasts.

KOSPI surpasses 5,900 for the first time in history

On the 23rd, the KOSPI opened at 5,903.11, up 1.63% from the previous trading day. This is the first time the KOSPI has surpassed the 5,900-point level. As of 9:49 a.m., it was trading at 5,893.51, up 1.46% from the previous trading day. The KOSDAQ also opened at 1,166.94, up 1.12%.

Last Friday, the U.S. Supreme Court ruled that the tariff policy of the Donald Trump administration was unlawful, which had a positive impact on the Korean stock market. The fact that the three major New York indices closed higher on Feb. 20 (local time) also provided support.

On this day as well, large-cap stocks such as Samsung Electronics, SK Hynix, and Hyundai Motor led the market higher. As of 9:42 a.m., Samsung Electronics was trading at 196,100 won, up 3.21% from the previous trading day, while SK Hynix was at 975,000 won, up 2.74%. Samsung Electronics is now on the verge of reaching the 200,000-won level, and SK Hynix is close to the 1 million-won mark. Hyundai Motor was also surging, trading at 534,000 won, up 4.91%, as tariff-related uncertainties eased.

Lee Kyungmin, a researcher at Daishin Securities, analyzed, "As the U.S. Supreme Court ruled that President Trump's tariff policy is unlawful, uncertainties in the stock market related to tariffs have decreased," adding, "Although President Trump's new tariff measures may partly dampen investor sentiment, they will be helpful for our stock market."

Park Sanghyun, an economist at iM Securities, pointed out, "Given that President Trump's tariff policy has been structurally weakened, it is likely to act as a positive factor for stock markets outside the United States."

KOSPI's gain this year is 'overwhelming'

As the KOSPI has been rising relentlessly, the gain of the Korean stock market this year is currently the overwhelming No. 1 among major global markets. As of the Feb. 20 closing price, the KOSPI was up 37.8% year to date, while over the same period the U.S. Dow Jones Industrial Average gained only 3.25%, and the Nasdaq Composite actually fell 1.53%, highlighting the wide gap. Based on the intraday high on the 23rd, the KOSPI's gain this year has exceeded 40%.

Japan's Nikkei index has risen 12.8% so far this year, the UK's FTSE 7.6%, Germany's DAX 5.54%, and China's Hang Seng China Enterprises Index 0.51%, all far below the KOSPI's performance. The KOSDAQ has also climbed more than 24% this year, delivering stronger results than other countries' markets.

In the securities industry, there is a continued view that the KOSPI can climb further and has ample room to reach 7,000 points within this year. On the 20th, Korea Investment & Securities raised its KOSPI target for this year from 5,650 to 7,250, citing a sharp increase in earnings at semiconductor companies such as Samsung Electronics and SK Hynix. Kim Daejoon, a researcher at Korea Investment & Securities, explained, "As of the 19th, the 12-month forward earnings per share (EPS) for the KOSPI had increased 40.5% compared with the beginning of the year," adding, "The key driver is the upward revision of semiconductor earnings thanks to the development of the artificial intelligence (AI) industry." Kim stressed, "Considering the rise in semiconductor prices, EPS can go even higher."

Hana Securities had earlier projected that, powered by the two leaders Samsung Electronics and SK Hynix, the KOSPI could rise as high as 7,900. Lee Jaeman, a researcher at Hana Securities, argued, "The growth in net profit in the domestic semiconductor sector will drive the KOSPI higher," and added, "The increase in liquidity both at home and abroad is also positive for the stock market."

NH Investment & Securities and Yuanta Securities Korea have also set the upper end of their KOSPI targets above 7,000 points. Early this month, NH Investment & Securities became the first domestic brokerage to raise the upper end of its KOSPI forecast above 7,000 points, to 7,300. Yuanta Securities Korea also raised the upper end of its KOSPI target to 6,300, and analyzed that if the net profit forecasts for Samsung Electronics and SK Hynix rise further and their valuations are reassessed, the upper bound of the index could move up to 7,100.

Stock-market support measures by the government and the ruling party are another factor heightening expectations for further gains in the index. On the 20th, the National Assembly's Legislation and Judiciary Committee passed, in its bill review subcommittee, the so-called "third amendment to the Commercial Act," which in principle mandates the retirement of treasury shares held by companies. The amendment stipulates, in principle, that when a company acquires its own shares, it must retire them within one year. Following the first and second amendments to the Commercial Act, the market had assessed that shareholder interests were strengthened, triggering sharp rallies in related stocks, and similar movements are reappearing recently.