Goldman Sachs strategists led by Timothy Moe cut their 12-month KOSPI target by
25% to 9,000 from 12,000, citing intensifying concerns around AI-related
trading. They noted the index has fallen more than 35% since its June high and
said valuation assumptions need to be more cautious; despite the downgrade,
Goldman still sees the market as deeply undervalued, implying more than 60%
upside down.
