Asia Centric by Bloomberg Intelligence Can Korea's World-Beating Bull Market Continue?
Nov 12, 2025
Peter Kim, a managing director and investment strategist at KB Securities, shares his insights on South Korea’s booming Kospi Index, which surged 70% this year, notably powered by AI-linked tech giants like Samsung. He discusses President Lee Jae Myung's pro-market reforms and their impact on investor sentiment, including major tax cuts. Kim also examines the overheating property market and the geopolitical balancing act with China and the US, suggesting that Korea can harness both powers while navigating these complexities.
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Policy Shift Fuels Market Optimism
- President Lee prioritized economic growth and stock-market-friendly reforms, surprising skeptics and boosting sentiment.
- The rally blends global liquidity with Korea-specific market reforms, making it powerful but uncertain over 6–12 months.
Baton Pass Of Buyers
- The rally saw a baton pass: domestic institutions, then foreign institutions, and now retail investors.
- Retail inflows can extend the rally because Koreans hold about $100bn in U.S. equities that could repatriate.
Retail Dominance Changes Market Signals
- Market structure changed: retail trading apps now dominate flows, decoupling prices from fundamentals.
- What used to signal a market peak may now prolong rallies beyond historical norms.