Archive · 31 Jul 2026
KOSPI Surges 19% on AI, SK Hynix, Foreign Buying
The Korean stock market, called the KOSPI, jumped a lot on Friday.
It went up 19% to a new high of 6,630 points.
A lot of money from investors outside Korea was bought into the market, more than $5 billion.
Big U.S. tech companies like Microsoft, Amazon and Meta did well, which made people feel good about spending on artificial intelligence.
The chairman of SK Group, Chey Tae‑won, bought shares in SK Hynix, a chipmaker, and that made the chipmaker’s stock rise a lot.
The South Korean government also said it would put $13.9 billion into a fund to invest in AI.
All of these things made the market go up a lot.
KOSPI jumped 19% to 6,630, its biggest one‑day gain since the start of the year.
Net foreign inflows of more than $5 billion into the index on Friday helped lift the market.
Strong U.S. tech earnings from Microsoft, Amazon and Meta boosted investor confidence in AI spending.
SK Group Chairman Chey Tae‑won bought SK Hynix shares, sending the chipmaker’s stock up 30%.
The South Korean government announced a $13.9 billion investment in its sovereign wealth fund for AI projects.
- Who
- SK Group Chairman Chey Tae‑won, foreign investors, U.S. tech companies, South Korean government
- What
- KOSPI index rose 19% to 6,630 amid strong AI‑related sentiment
- When
- Friday, 2024
- Where
- South Korea, KOSPI index
- Why
- Investor confidence in AI, foreign buying, SK Hynix purchase, government AI investment
- KOSPI closing level
- 6,630
- percentage gain
- 19%
- foreign inflows
- $5 billion
- SK Hynix share price
- 1,718,000 KRW
- government AI investment
- $13.9 billion