KOREA ALPHA

Markets

Korea Alpha infographic comparing the KOSPI's 18.8% decline with the Korean won's 2.1% appreciation between September 30 and October 23, 2026.

Korea Alpha infographic contrasting KRW 17.4 trillion in foreign KOSPI net selling with Korea's USD 46.1 billion August current-account surplus and exporter dollar supply.

Korea Alpha comparison of KOSPI returns from September 30 to October 23, 2026, showing an 18.8% decline in Korean won terms versus approximately 17.1% in unhedged US dollar terms.

Korea Alpha investment dashboard highlighting three signals for a Korean stock-market rebound: renewed foreign buying, improving semiconductor earnings expectations, and won stability.

Markets

Korean Stocks Are Falling. Why Is the Won Getting Stronger?

October 23, 2026 · 6 min read

S-1 share cancellation infographic showing a planned 23% reduction in issued shares, including 11.02% existing treasury shares and an 11.96% new tender offer.

S-1 EPS infographic comparing a planned 23% share cancellation with approximately 15.5% potential EPS growth from the new buyback, before cash costs.

S-1 financial infographic showing a KRW 450 billion tender offer cash outflow and illustrative EPS accretion of 15.5% before cash costs versus approximately 9.9% after.

S-1 operating profit chart showing a 15.8% year-over-year decline in the first nine months of 2026 and three investment indicators: tender completion, margin recovery and valuation.

Markets

Can S-1's 23% Share Cancellation Sustain a Valuation Rerating?

October 19, 2026 · 6 min

KOSPI falls 5.46% to 6,035.35 on October 13, 2026, illustrated by a sharp downward stock market chart.

KRW 4.51 trillion in foreign net selling of KOSPI stocks, illustrated by capital outflows and AI semiconductor imagery.

South Korean semiconductor exports rise 262.8% year over year in September 2026 while Korean semiconductor stocks decline.

Three-stage KOSPI recovery framework showing foreign capital flows, semiconductor earnings stability, and investor confidence.

Markets

KOSPI Falls 5.46%: Is Korea's AI Memory Trade Being Repriced?

October 13, 2026 · 7 min

Korea’s AI semiconductor trade broadens from memory into equipment, advanced packaging and testing as semiconductor exports accelerate.

HBM’s share of DRAM wafer capacity increases from around 20% to around 30%, creating greater pressure for semiconductor capacity investment.

AI memory demand moves through fab equipment, advanced packaging and testing, with semiconductor CAPEX connecting demand to supplier earnings.

Orders, backlog and earnings are the three proof points for determining whether Korea’s broader AI semiconductor trade is translating into real profits.

Markets

Is Korea’s AI Trade Moving Beyond Memory?

September 30, 2026 · 9 min read

Korea corporate sales rise 26.7% as operating margin reaches a record 16.9% in the second quarter of 2026

Samsung Electronics and SK hynix drive Korea manufacturing sales growth and record semiconductor profitability in 2Q26

Korea corporate sales growth spreads beyond semiconductors into transport, retail, construction and SMEs in 2Q26

Korea corporate earnings outlook depends on broader revenue growth translating into wider profit growth

Markets

Korea’s Earnings Boom Is Bigger Than Samsung and SK hynix

September 9, 2026 · 8 min read

Korea AI boom drives rising power demand from semiconductor expansion and AI data centers

Korea semiconductor fabs and AI data centers increase electricity demand and power infrastructure requirements

Korea AI-driven electricity demand creates new opportunities across power generation, grid infrastructure and electrical equipment

Korea AI infrastructure expansion depends on securing power supply, grid capacity and project execution

Markets

AI Is Rewriting Korea’s Industrial Map

September 9, 2026 · 8 min read

Foreign buying returned to Korean equities while KOSPI market breadth remained narrow on September 8, 2026

Foreign buying remains concentrated in Samsung Electronics and SK hynix as the two companies account for 50.29% of KOSPI market capitalization

Broader earnings leadership across industrials, financials, consumer and mobility could support the next phase of Korea’s equity re-rating

Korea’s semiconductor-led rally could evolve into a broader market re-rating if foreign buying and earnings momentum spread across more sectors

Markets

Foreign Money Is Returning. Korea’s Rally Is Still Too Concentrated.

September 8, 2026 · 8 min read

Goldman Sachs KOSPI 12,000 target compared with the September 7 KOSPI level of 6,995.39

AI data-center investment strengthens Korea’s memory cycle as demand for advanced memory continues to rise

Stronger Korean earnings could support a KOSPI valuation re-rating and renewed foreign investor inflows

Key conditions investors should watch for the KOSPI to move toward Goldman Sachs’ 12,000 target

Markets

Goldman Sees KOSPI at 12,000. What Does Korea See?

September 7, 2026 · 8 min read

Foreign investors return to Korean equities as the KOSPI rises 1.64% on September 4, 2026

Foreign and institutional investors join corporate buybacks to broaden demand for Korean equities

Foreign and institutional investors begin taking over from corporate buybacks as a broader source of demand for the KOSPI

Key signals to watch for whether foreign and institutional inflows can sustain the KOSPI rally

Markets

Foreign Investors Are Back — Is This the Handoff KOSPI Needed?

September 4, 2026 · 8 min read

The KOSPI remains resilient despite foreign selling as corporate share buybacks absorb market supply

Samsung Electronics and SK hynix share buybacks are absorbing foreign selling and supporting the KOSPI

Corporate share buybacks are strengthening KOSPI resilience by absorbing selling pressure and supporting market demand

Key factors to watch for the KOSPI including corporate buybacks, foreign investor flows, liquidity conditions and the AI earnings cycle

Markets

Who Is Holding Up the KOSPI?

September 3, 2026 · 8 min read