Surge in KOSPI Index Driven by Major Korean Conglomerates
Recently, the KOSPI index has experienced a significant surge, primarily led by the listed subsidiaries of major domestic conglomerates. According to the combined market capitalization of listed subsidiaries, the top 10 conglomerates saw their market value increase by approximately 580 trillion won (36%) since the third quarter of this year. Global investors are focusing on the manufacturing competitiveness of these large Korean companies, and as the domestic stock market rises, it is attracting even more investor interest, creating a virtuous cycle.
On the 23rd, the KOSPI index reached a historic high of 3902.21 during the trading session, surpassing the 3900 mark for the first time. However, after some profit-taking, it closed at 3845.56. Despite this drop, the general outlook among securities firms suggests that there is a high probability for continued upward momentum.
The current boom in the domestic stock market is being driven by large corporations. According to the Korea Exchange, since the third quarter, the KOSPI large-cap index has surged by 28.91%. In contrast, the KOSPI mid-cap index only rose by 8.54%, while the KOSPI small-cap index actually declined by 0.21%. The KOSPI 200 index, which comprises 200 representative stocks, also increased by 29.37% during the same period, but the rise in the KOSPI index excluding the KOSPI 200 was a mere 5.09%.
The market capitalization of major conglomerates has also skyrocketed. Based on the combined market capitalization of listed subsidiaries, the top 10 groups have seen their market value increase from 1602.89 trillion won at the end of the second quarter to 2180.42 trillion won, an increase of 577.53 trillion won. Compared to the end of the first quarter, this represents a staggering increase of 870 trillion won (66.3%).
Samsung Groups market capitalization increased by approximately 266 trillion won, driven by the rise in Samsung Electronics stock price. Similarly, SK Groups market value increased by around 151 trillion won. Even LG Group, which had been underperforming, saw its market capitalization rise by 53 trillion won, thanks to a rebound in the secondary battery sector.
This trend indicates a strong performance from large conglomerates, which are attracting both domestic and foreign investment, further bolstering the overall market. Analysts remain optimistic about the future performance of the KOSPI index, as the underlying economic fundamentals appear to support continued growth.
On the 23rd, the KOSPI index reached a historic high of 3902.21 during the trading session, surpassing the 3900 mark for the first time. However, after some profit-taking, it closed at 3845.56. Despite this drop, the general outlook among securities firms suggests that there is a high probability for continued upward momentum.
The current boom in the domestic stock market is being driven by large corporations. According to the Korea Exchange, since the third quarter, the KOSPI large-cap index has surged by 28.91%. In contrast, the KOSPI mid-cap index only rose by 8.54%, while the KOSPI small-cap index actually declined by 0.21%. The KOSPI 200 index, which comprises 200 representative stocks, also increased by 29.37% during the same period, but the rise in the KOSPI index excluding the KOSPI 200 was a mere 5.09%.
The market capitalization of major conglomerates has also skyrocketed. Based on the combined market capitalization of listed subsidiaries, the top 10 groups have seen their market value increase from 1602.89 trillion won at the end of the second quarter to 2180.42 trillion won, an increase of 577.53 trillion won. Compared to the end of the first quarter, this represents a staggering increase of 870 trillion won (66.3%).
Samsung Groups market capitalization increased by approximately 266 trillion won, driven by the rise in Samsung Electronics stock price. Similarly, SK Groups market value increased by around 151 trillion won. Even LG Group, which had been underperforming, saw its market capitalization rise by 53 trillion won, thanks to a rebound in the secondary battery sector.
This trend indicates a strong performance from large conglomerates, which are attracting both domestic and foreign investment, further bolstering the overall market. Analysts remain optimistic about the future performance of the KOSPI index, as the underlying economic fundamentals appear to support continued growth.
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