STOCKS | Goldman Sachs Raises South Korea's Kospi Index Target to 12,000 Points

Goldman Sachs has increased its target for South Korea's Kospi Index from 9,000 to 12,000 points. According to Jin10, the firm stated that as long as corporate earnings continue to grow strongly, the market will be well-supported. Goldman Sachs strategists highlighted in their report that the target increase is driven by "higher earnings and a conservative 8x expected price-to-earnings ratio." The firm has also raised its earnings growth forecasts for 2026 and 2027 to 320% and 35%, respectively, noting that South Korea is the strongest market in the region in terms of earnings performance. However, Goldman Sachs acknowledged that the South Korean stock market has more than doubled this year, with Samsung Electronics and SK Hynix accounting for over half of the market's total capitalization. The firm also warned that increased retail speculation could make the market susceptible to corrections.