[News Today] KOSPI tops 5,000 for first time

[LEAD]
South Korea’s benchmark KOSPI surged past the 5,000 mark during intraday trading on the 22nd, a first since the index was launched. The 5,000 mark was reached once again today. This comes three months after breaking 4,000, marking an unusually rapid rise for the Korean stock market.

[REPORT]
The 'dream number' 5,000 appears on the market board.

The benchmark Korea Composite Stock Price Index started the day sharply higher and broke the 5,000 mark for the first time ever, rising to 5,019 points.

At market close, it hovered below 5,000 but still recorded the highest closing price ever.

The KOSPI began calculating its index in 1980.

It surpassed the 1,000 mark in 1989 and took 18 years to exceed 2,000, and over 13 years to break through 3,000.

Given that it took nearly five years to reach 4,000, the 5,000 milestone is believed to have come exceptionally fast.

The rapid surge is attributed to the semiconductor 'super cycle' fueled by the AI boom.

The share price of Samsung Electronics, teased for staying in the 50,000 won range up until April last year, shot up to 150,000 won, while that of SK Hynix also jumped from below 200,000 to 750,000 won per share.

Hwang Se-woon / Korea Capital Market Institute
Amid emerging new topics such as robotics and physical AI, there seems to be growing expectation that Korean firms could be at the center of this.

Some believe shareholder-friendly policies such as the revised Commercial Act and the separate taxation of dividend income boosted the appeal of the Korean bourse.

Kim Hak-kyun / Shinyoung Securities
Expectations for improved governance structure are likely reflected. If this culture takes root, I believe it will greatly ease the so-called 'Korea discount'.

Also aiding the 5,000 mark breakthrough was a rally in the U.S. stock market following eased geopolitical tensions the previous night.

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