South Korean shares surged nearly 6% in early trading on October 28, 2026, with chipmakers SK Hynix and Samsung Electronics leading gains after SK Hynix reported its third-quarter earnings.

Key Takeaways

  • The KOSPI rose 5.99% to 5,975.98 as of 0140 GMT, putting it on track for its largest daily percentage gain since July 31 if the advance held.
  • SK Hynix gained 8.20% and Samsung Electronics rose 8.90%, while foreign investors were net buyers of South Korean shares.

South Korean shares rise across sectors

The benchmark KOSPI was up 337.64 points at the observation time. The move followed gains on Wall Street the previous day, when US stocks advanced amid enthusiasm for artificial intelligence-related companies.

The rally extended beyond chipmakers: LG Energy Solution gained 1.70%, Hyundai Motor rose 3.27%, Kia advanced 1.50% and POSCO Holdings added 2.72%. Samsung Biologics fell 0.36%.

Market breadth was positive, with 620 stocks rising and 257 falling among 913 issues traded. Foreign investors were net buyers of shares worth 589.1 billion won.

SK Hynix results and memory demand

The chipmakers’ gains followed SK Hynix’s earnings announcement. The company reported preliminary third-quarter revenue of 104.6155 trillion won and operating profit of 83.3338 trillion won. It said higher prices for key products and growing demand for AI memory supported its results.

SK Hynix also outlined plans for approximately 100 trillion won in shareholder returns for fiscal 2026, including cash dividends and share repurchases and cancellations. The company said a 40 trillion won repurchase announced in August had already been completed.

The company expects demand for memory to exceed supply through 2030. That is its forecast, rather than a confirmed market outcome.

Won weakens as bond yields diverge

The South Korean won weakened 0.64% to 1,335.7 per US dollar on the onshore settlement platform, from its previous close of 1,327.2.

The yield on the most actively traded three-year Korean treasury bond fell 2.2 basis points to 3.776%, while the benchmark 10-year yield rose 2.8 basis points to 4.070%.

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