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Kospi sets record with Korean chipmakers buoyed by Nvidia CEO's remarks

Published: 03 Nov. 2025, 18:51 Updated: 03 Nov. 2025, 19:15

The closing figures of the Kospi on Nov. 3, which ended at 4,221.87, up 114.37 points or 2.78 percent from the previous session’s 4,107.50, are shown on an electronic board at the Korea Exchange in Yeouido, western Seoul. [JUN MIN-KYU]

The Kospi climbed 2.78 percent to close at 4,221.87 on Monday, setting a new all-time high after surpassing the 4,000 mark on Oct. 27.

The surge came as investor confidence grew following Nvidia CEO Jensen Huang’s remarks in Seoul expressing plans to strengthen cooperation with Korean chipmakers.

Foreign investors net sold 795 billion won ($555 million) worth of shares, but individual investors net bought 651 billion won, leading the gains. Institutional investors, who had sold early in the session, reversed course to buy a net 185 billion won.

The rally was led by chip heavyweights Samsung Electronics and SK hynix. SK hynix soared 10.91 percent to close at 620,000 won, hitting a record high. Samsung Electronics also gained 3.35 percent to close at 111,100 won, surpassing the 110,000-won mark for the first time.

During the “SK AI Summit 2025” held on Monday, SK hynix CEO Kwak Noh-jung unveiled the company’s next-generation AI memory road map, which boosted market sentiment. SK hynix plans to launch HBM4 16-layer products in 2026, followed by HBM4E in 8-, 12- and 16-layer versions, and introduce HBM5 and HBM5E between 2029 and 2031.

“As a co-designer and partner of AI computing, we will create full-stack AI memory and evolve into a customized semiconductor manufacturer,” Kwak said.

Global factors also bolstered chipmakers' momentum. Strong earnings from U.S. tech giants Apple and Amazon pushed up Wall Street, while Huang’s visit during the Asia-Pacific Economic Cooperation (APEC) summit last week reinforced optimism.

During his trip, Huang said, “Samsung and SK hynix both have incredible technology capabilities,” signaling stronger cooperation with Korean chipmakers.

Nvidia CEO Jensen Huang speaks during a press conference at the Asia-Pacific Economic Cooperation CEO summit in Gyeongju, North Gyeongsang, on Oct. 31. [AP/YONHAP]

Nvidia also pledged to supply 260,000 GPUs to the Korean government and corporations, strengthening what analysts called the “Nvidia alliance.”

The semiconductor supercycle has prompted brokerage houses to raise their forecasts. Nomura Securities projected SK hynix’s operating profit to reach 128 trillion won in 2027 and set a target price of 840,000 won. SK Securities raised its target to 1 million won, citing structural changes in the AI industry.

Defense stocks also rallied after strong third-quarter results.

Hanwha Aerospace rose more than 6 percent after posting a 79 percent increase in operating profit, while Hyundai Rotem gained over 6 percent with operating profit up 102.1 percent. Gains were also strong in electrical equipment, which climbed 8.44 percent, IT services up 5.95 percent, semiconductors and equipment up 5.78 percent and energy equipment and services up 4.94 percent.

Still, some analysts warned of short-term overheating. The U.S. Federal Reserve remains divided over whether to cut rates in December, creating uncertainty.

“Favorable momentum in the domestic stock market has continued since APEC,” said Lee Kyung-min, an analyst at Daishin Securities. “Expectations for data center expansion and new partnerships following Nvidia’s announcement to supply 260,000 AI chips have driven the Kospi’s rally. But investors should stay cautious above the 4,100 level and focus on risk management.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM IN-KYOUNG [[email protected]]