South Korea’s retail traders, known locally as “ants,” have essentially taken over the country’s stock market. Leveraged ETFs and two chipmaker stocks now account for more than 70% of trading activity in a market valued at $4.3 trillion.
How two stocks swallowed a market
The frenzy centers on single-stock leveraged ETFs tied to Samsung Electronics and SK Hynix, both semiconductor heavyweights riding the global AI wave. These products launched in late May 2026 and immediately became the hottest trade in town.
Approximately 92% of holders in these ETFs are individual retail investors.
Assets under management in the new domestic ETFs surged from roughly $3 billion at inception to around 14 trillion won, approximately $9.1 billion, in a matter of weeks. The broader leveraged ETF market in Korea has ballooned to somewhere between $40 billion and $45 billion, setting records along the way.
