Seoul Shares Surge Over 6% on Renewed AI Optimism and SK Hynix Earnings

On October 28, 2026, Seoul's stock market saw a remarkable increase of more than 6%, primarily driven by a rally in chipmakers following SK Hynix's announcement of record quarterly earnings. The benchmark Korea Composite Stock Price Index (KOSPI) rose by 374.1 points, or 6.63%, closing at 6,012.44.

The surge in the stock market was largely attributed to the robust demand for memory chips amid the ongoing AI boom. SK Hynix, the world's second-largest memory chip manufacturer, reported record-high revenue and operating profit for the third quarter, leading to an announcement of a significant shareholder return program worth over 100 trillion won.

Investor sentiment was further boosted as major players in the market, including Samsung Electronics, also saw substantial gains, with Samsung's shares jumping 9.01% to 242,000 won. Analysts noted that the strong performance of SK Hynix alleviated concerns regarding the sustainability of the AI-driven rally.

As the market rallied, the Korea Exchange implemented a buy-side sidecar to manage the surge in trading activity. This measure was activated for the second consecutive session, reflecting the heightened investor interest in technology stocks. The overall trade volume was relatively light, with foreign and institutional investors making significant net purchases.

In the broader context, investors are also closely monitoring the Federal Reserve's upcoming interest rate decision, which could influence future market trends.