Kospi makes history crossing 5,000

Traders cheer the benchmark Kospi surpasing the 5,000-point mark for the first time in early trading at the dealing room of Hana Bank in Seoul, Thursday. (Yonhap)

South Korea’s benchmark stock index surged past the 5,000 mark in early trading Thursday, raising expectations that the long-standing “Korea discount” — a term referring to the relatively low valuation of domestic stocks — may finally be fading.

The index opened at 4,987.06, and quickly surged over 5,000. It surged to as high as 5,011.15 as of 9:08 a.m.

Individual investors are leading the rally, net buying 298 billion won ($204 million), while foreign investors and institutional investors are offloading 48.2 billion won and 245.9 billion won, respectively.

The Kospi 5,000 era comes roughly a half year later since President Lee Jae Myung took office in June.

During his presidential candidacy, Lee pledged to make the Kospi reach over 5,000 points, eliminating the Korea discount.

Backed by government-led initiatives aimed at strengthening shareholder returns and revitalizing the equity market, the Kospi posted a sharp gain shortly after Lee took office on June 4, reclaiming the 3,000-point threshold on June 20.

Since then the index has staged a sharp ascent. The Kospi entered uncharted territory when it surged beyond 3,500 for the first time on Oct. 2 and climbed above 4,000 later that month on Oct. 27.

Though the rally briefly stalled toward year-end, the index regained momentum in 2026, vaulting past 4,500 on Jan. 6 and going on to surpass the 5,000 mark later the same month.