Goldman Sachs Cuts Its Price Target for South Korea’s KOSPI

Goldman Sachs has cut its 12-month KOSPI target by 25%, to 9,000 from 12,000. The new figure returns the bank to where it stood before its June 3 upgrade. The bank estimates chip valuations now imply a 65% fall in 2027 sector earnings. It calls that view excessively pessimistic. Samsung Electronics and SK Hynix report this week, offering the first test of that view. Record Chip Profits Have Not Stopped the Selling The KOSPI closed at 5,550.30 on October 23, according to Google Finance. Its 2026 gain has shrunk to 28.79%, from about 116% at the June peak . Even after the cut, the 9,000 target implies about 62% upside from the KOSPI’s October 23 close. Memory chipmakers make up about half the index.

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