Korea Weekly Kickstart

Goldman Sachs raised its KOSPI target to 6,400 following a sharp 8% weekly rebound, driven by a 120% earnings growth forecast for 2026 centered on semiconductor supply shortages.

Key Takeaways

• 1.Goldman Sachs has raised its 12-month KOSPI target to 6,400, implying over 20% upside based on exceptionally strong earnings growth.
• 2.The 2026 earnings growth forecast for the Korean equity market has been lifted to 120%, primarily driven by a recovery in the semiconductor sector.
• 3.MSCI announced its February 2026 index review, with additions including Hyundai E&C and Samsung Epis Holdings, and deletions including Coway, Doosan Bobcat, and LG H&H.

Table of Contents

• Charts of the week: Raising KOSPI Target with Higher Earnings Growth Outlook
• Charts of the week: MSCI Global Investable Market Indexes Index Review
• Summary
• Investment flows
• Macro Indicators
• Performance
• Valuations
• Valuation discount relative to Global and Asia regional peers
• Flows
• Currency, rates and commodities
• Korea ERB, Credit and Market Technicals

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