South Korea’s benchmark KOSPI index has been on an absolute tear in 2026, surging over 90% year-to-date at its peak. The culprit, if you can call it that, is an insatiable global appetite for AI hardware, specifically the high-bandwidth memory (HBM) chips that power everything from large language models to autonomous systems.
Two names dominate the story: Samsung Electronics and SK Hynix. Together, they’ve accounted for approximately 72% of the KOSPI’s total gains.
The numbers behind the surge
SK Hynix has been the standout performer, with its shares rocketing approximately 263% year-to-date by June 2026. Samsung Electronics wasn’t far behind in absolute terms, posting gains of roughly 191% over the same period.
The KOSPI hit all-time highs on May 11, 2026, propelled by a combination of retail buying enthusiasm and favorable pricing dynamics in the AI chip market. Goldman Sachs analysts have identified what they’re calling a “supercycle” in memory chips, where AI demand is simply outstripping available supply.
