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Goldman raises KOSPI to 12,000 as semiconductor profits jump 320%

6/3/2026

Summary

Goldman Sachs Raises Target

Goldman Sachs raised its KOSPI target index to 12,000 for the next 12 months.
Timothy Mo said Korea’s semiconductor P/E is five times higher and the memory cycle will extend, leading Goldman Sachs to forecast profit growth of 320% this year and 35% next year.
The bank warned that short-term adjustments may occur because of semiconductor concentration but called them buying opportunities.

Summary

SK Hynix Doubles

SK Hynix announced it will double wafer capacity within five years, holding 58% of Q1 high-bandwidth memory (HBM) market versus 21% for Samsung and Micron.
Korean semiconductor exports rose to $87.75 billion in May, a 53.2% year-over-year gain, while memory sales surged 169.4% to $37.16 billion.
Goldman Sachs flagged defense, shipbuilding and power-supply stocks as attractive outside semiconductors and warned that retail leveraged-ETF positions could unwind in a correction, raising volatility.

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Goldman Sachs Raises Target

Goldman Sachs raised its KOSPI target index to 12,000 for the next 12 months.
Timothy Mo said Korea’s semiconductor P/E is five times higher and the memory cycle will extend, leading Goldman Sachs to forecast profit growth of 320% this year and 35% next year.
The bank warned that short-term adjustments may occur because of semiconductor concentration but called them buying opportunities.

1 / 2