韩国股市2026年展望：半导体景气与政策支持成焦点

Market Overview - The KOSPI index is projected to reach 7500 points by February 2026, indicating significant upside potential driven by the semiconductor industry's performance and corporate reforms [2] - Despite a single-day drop of over 5% on February 6, 2026, the KOSPI index has maintained a strong overall performance since breaking the 5000-point mark in January 2026 [2] Recent Events - The South Korean National Assembly passed the "Special Act on Strengthening and Supporting the Competitiveness of the Semiconductor Industry" on January 29, 2026, which is expected to take effect by the third quarter of 2026, providing institutional support for the semiconductor supply chain [3] - The South Korean government continues to promote the "Value Enhancement Plan" aimed at improving corporate governance and shareholder returns, with record levels of stock buybacks and dividends expected to continue into 2026 [3] Company Developments - Samsung Electronics plans to implement a stock price-linked employee compensation scheme from October 2025 to 2028, which may influence market sentiment; the company's Q4 2025 earnings guidance indicates a significant year-on-year increase in operating profit [4] - SK Hynix is expected to achieve record high performance in FY 2025 and has announced additional dividends; the company anticipates sustained demand for high bandwidth memory (HBM) and is focusing on capacity expansion plans for 2026 [4] - LG Energy's 2026 strategy focuses on expanding energy storage battery production, aiming to increase North American capacity to over 60 GWh and plans to launch new technology products such as lithium iron phosphate batteries within the year [4] - Hyundai Motor Group's Beijing Hyundai plans to launch four new energy vehicle models between 2026 and 2027, covering various technology routes including pure electric and hybrid [4] Industry Policy Landscape - The Bank of Korea maintained the benchmark interest rate at 2.5% for the fifth consecutive time in January 2026, with future meetings likely to cautiously balance economic recovery and inflation risks [5] - The National Pension Service (NPS) plans to reduce overseas stock investments by approximately $20 billion in 2026, shifting towards increased domestic allocations, which may impact market liquidity [5]