Citi raises target for South Korea's Kospi Index to 8,500 points, driven by growth in the semiconductor sector and other factors
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Glonghui, May 7 — Citigroup raised its target level for South Korea's Kospi index from 7,000 to 8,500 points, reflecting growth potential in semiconductor industry earnings, fiscal stimulus, and government initiatives to boost corporate value. Analysts including Peter Lee wrote in a report that, driven by strong growth in the semiconductor industry and improvements in the fundamentals of South Korea’s manufacturing sector, net profits for fiscal year 2026 are expected to grow by 177% year-on-year. “We observed that South Korean memory chip suppliers will benefit from customization trends and cycle extensions through long-term chip agreements.”
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