JPMorgan Sets Bullish 10,000 Target for South Korea's KOSPI Index

JPMorgan raised its KOSPI bull-case target to 10,000. The bank cites an AI-driven memory chip supercycle for the revision. The base case target is 9,000. The bear case target is 6,000. South Korea is now JPMorgan's top regional market.

Demand for high-bandwidth memory (HBM) chips for AI data centers drives this forecast. The KOSPI increased 71% year-to-date. South Korea’s market capitalization ranks 7th globally.

Goldman Sachs also increased its KOSPI target. South Korea reported 1.7% GDP growth in Q1 2026.