South Korea's stock market just passed Germany's
South Korea's stock market is now worth $3.25 trillion, edging out Germany to become the world's 10th largest as of January 28, 2026.
That's a huge $1.7 trillion jump in just a year, with the Kospi index trading at a lower price-to-earnings ratio than Germany's DAX.
Why does this matter?
Even though Germany's economy is still much bigger overall, South Korea is winning in the stock market thanks to a surge in technology stocks tied to AI and memory-chip price gains and a powerhouse tech sector—think Samsung and SK Hynix—which account for about 40% of the KOSPI's market capitalization.
Meanwhile, Germany's industrial growth has slowed down due to geopolitical uncertainty and a lack of clarity around stimulus deployment.
What pushed Korea ahead?
The Kospi surged 23% this year as AI, robotics, and chip shortages boosted big Korean companies.
Plus, vocal support for the stock market and a push for corporate-governance reforms by President Lee Jae Myung helped ignite last year's rally, and momentum carried markets past the 5,000 mark—way outpacing Germany's DAX index growth of just about 1.7%.