South Korean Shares Rally on Tech Rebound

The benchmark KOSPI soared more than 15% to around 6,450 on Friday, rebounding sharply from the previous session as a global technology rally lifted semiconductor stocks. Sentiment improved after Microsoft’s stronger-than-expected earnings and robust Azure growth eased concerns over AI spending, fueling gains in US chipmakers overnight and driving sharp advances in Korean heavyweights. Samsung Electronics and SK hynix both surged more than 25%, along with notable gains in SK Square (29.9%), Hyundai Motor (9.4%), Kia Corporation (8.6%), and HD Hyundai Heavy Industries (5.0%). The government announced plans to establish a 20 trillion won sovereign wealth fund to invest in strategic industries, including AI, semiconductors, data centers, and infrastructure. Domestic sentiment was also supported by June industrial production, which rose 2.3%, the fastest monthly increase in six years, led by strong growth in automobile and semiconductor output.




