The benchmark KOSPI jumped more than 3% to around 8,750 on Monday, setting a new record high on the back of robust semiconductor exports and persistent AI-driven demand. South Korea’s exports rose 53% year-on-year to an all-time high of $87.8 billion in May, propelled by a 169% surge in semiconductor shipments and bolstering optimism about the sector’s earnings outlook.
Samsung Electronics led the rally, advancing 5.7%, as investors also focused on Nvidia CEO Jensen Huang’s upcoming visit to South Korea later this week, amid expectations of new AI and semiconductor partnership opportunities. Sentiment was further supported by record closes on Wall Street, underpinned by ongoing enthusiasm for AI infrastructure investment.
Other notable gainers included Hyundai Motor (up 2.1%), Doosan Enerbility (4.5%), Hanwha Aerospace (5.3%), KB Financial Group (1.3%), and LG Electronics (24.4%). Still, unresolved US-Iran negotiations and rising oil prices kept broader geopolitical and inflation risks firmly on investors’ radar.
