KOSPI's 60-day correlation with the Nasdaq-100 has climbed to about 0.50, the
highest since 2021, as AI spending ties US tech giants to Korean memory-chip
makers. Samsung Electronics and SK Hynix account for more than half of KOSPI’s
weight, effectively turning the index into a semiconductor proxy, Futurum Group
says. Recent rallies and volatility in Korean chip stocks have pushed global
investors to treat the market as a bellwether for AI flows; analysts warn the
growing synchronicity reduces cross-market diversification and would leave Korea
more exposed than most markets if hyperscalers cut capex.
