SEOUL, Jan. 22 (UPI) -- South Korea's benchmark KOSPI nearly doubled in less than a year, crossing the 5,000-point mark for the first time in 45 years Thursday.

The KOSPI opened 1.57% higher at 4,987.06 points and quickly climbed past the 5,000-point threshold, hitting an intraday peak of 5,019.54 points.

The country's main index, which began at 100 points in early 1980, later pared gains to close at 4,952.53 points, up 0.87% from the previous session.

When President Lee Jae Myung was inaugurated in early June last year, he pledged that the KOSPI would reach the 5,000-point milestone during his five-year term. Back then, the index was just below 2,700 points.

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