KOSPI Soars Past 7,300 Intraday for the First Time, Setting a New Record

KOSPI Surpasses 7,000 Points for the First Time,
Exceeds 7,300 Intraday
Memory Semiconductor Demand Grows Amid AI Revolution
Samsung Electronics and SK hynix Expected to Drive Further Market Gains

On the 6th, when the KOSPI index surpassed the 7000 mark intraday for the first time in history, the domestic stock market index was displayed on the electronic board in the dealing room of the Woori Bank headquarters in Jung-gu, Seoul. Photo by Kang Jinhyung, May 6, 2026.

The KOSPI index has surpassed the 7,000-point mark for the first time in history. It exceeded 7,300 intraday, about two months after first breaking through 6,000 points on February 25. Securities firms projected that the KOSPI could continue to rise further, as the super-boom in memory semiconductors driven by the artificial intelligence (AI) revolution is expected to be prolonged.

On May 6, the KOSPI opened at 7,093.01, up 2.25% from the previous trading day, and extended its gains to trade at 7,334.24 as of 10:03 a.m., marking a 5.73% increase. The KOSPI 200 futures index surged, triggering a temporary sidecar—a program trading buy order halt—at around 9:07 a.m. After surpassing the 3,000 mark for the first time in June last year, the KOSPI broke through 5,000 at the end of January this year, and then reached 7,300 in just about three months, showing a steep upward trajectory. The KOSDAQ opened at 1,220.90, up 0.59%, but reversed to trade down 0.83% at 1,203.63.

The record highs on the New York Stock Exchange overnight, driven by improved earnings in semiconductor-focused big tech companies, also influenced the domestic market. On May 5 (local time), the S&P 500 index rose 0.81% and the Nasdaq index climbed 1.03%, both reaching all-time highs. The Philadelphia Semiconductor Index surged 4.2%, leading the market rally. Intel led the market with a nearly 13% jump on news of new semiconductor supply negotiations with Apple, while Micron also soared 11%, both marking record highs.

The main drivers behind the KOSPI surge are undoubtedly Samsung Electronics and SK hynix, the two leading semiconductor companies. As of 10:04 a.m., Samsung Electronics was trading at 261,000 won, up 12.26% from the previous trading day. SK hynix was trading at 1,588,000 won, up 9.74%. Both companies reached all-time highs. Kim Seokhwan, a researcher at Mirae Asset Securities, explained the background behind the semiconductor stock rally, saying, "Overnight, foreign media reported that Apple held exploratory talks not only with Intel but also with Samsung Electronics regarding semiconductor contract manufacturing."

Experts believe that continued improvement in the memory semiconductor market makes further KOSPI gains entirely possible. Lee Kyungmin, a researcher at Daishin Securities, commented, "Samsung Electronics and SK hynix are performing well this year, but next year looks even better," adding, "Stock prices are already responding to this outlook." Yang Ilwoo, head of the Global Investment Strategy Team at Samsung Securities, analyzed, "The KOSPI's current price-to-book ratio (PBR) is about 1.7 times, only half that of the Taiwan stock market at 3.4 times," and added, "If the KOSPI continues to be re-evaluated, it could quickly rise to 8,400 points."

This content was produced with the assistance of AI translation services.