South Korea's KOSPI hits all-time high on OpenAI-Samsung deal
South Korea's KOSPI index jumped 3.1% to an all-time high of 3,562.97 this week, mainly thanks to Samsung and SK Hynix landing a big deal to supply memory chips for OpenAI's data centers.
The move puts South Korea front and center in the global AI tech race.
Samsung and SK Hynix lead the charge
Samsung and SK Hynix aren't just tech giants—they make up nearly a third of the entire KOSPI index.
After news broke, Samsung shares climbed over 4% (their best since early 2021), while SK Hynix soared more than 12% to a new record.
Foreign investors poured in $1.23 billion right before the markets close for a week-long holiday, showing serious confidence in Korean tech.
Broader market gains and export boost
South Korea's exports had their fastest growth in over a year last month—even with US tariffs still around—which boosted overall investor optimism.
The OpenAI partnership highlights how crucial Korean tech is for powering next-gen AI tools, while other major stocks—including electric car makers Hyundai and Kia—also saw gains, reflecting overall investor optimism.
A semiconductor surge
With global demand for AI chips booming and foreign money flowing into the market, South Korea's semiconductor sector is having a moment—and it looks like they're just getting started.