The annual debate over the number of successful candidates has reached a point where some express weariness. However, too many vested interests are intertwined to simply dismiss it as a ‘turf war.’ In particular, the advent of the AI era is raising fundamental questions about the very future of the legal profession.

Pass Rate Stuck at 50%, The Unending Spark of Controversy

The pass rate for the 15th Lawyer Bar Exam in 2026 was 50.95%, and despite recording the highest number of applicants ever, the number of successful candidates actually decreased by 30 compared to the previous year. This shows a situation where the pass rate, which was 87.1% in the first year of the law school system’s introduction, has been halved to the low 50% range. Such a low pass rate makes it difficult to avoid criticism that law school education is distorted to focus on exam preparation.

• Korean Bar Association: Points to the saturation of the lawyer market and argues that the number of successful candidates should be reduced to below 1,500. It also predicts that with the introduction of AI in the legal field, up to 80% of lawyer duties could be automated by 2030, taking the position that the output of new lawyers should be restricted.
• Korean Association of Law Schools: Counter-argues that the bar exam should be converted into a qualification exam and the pass rate should be increased. It points out that restricting the output of new legal professionals is going against the changes of the times, even to meet the increasing legal demand in new industries such as AI and bio.
• ‘Five-strike rule’ issue: The so-called ‘five-strike rule’ (오탈자), where individuals lose their eligibility to apply after using all five chances within five years of graduation without passing, has accumulated over 2,000 people. These individuals, despite receiving specialized education, cannot enter the legal profession, leading to social loss.

These stark differences in opinion also stem from confusion over whether the bar exam is essentially a qualification exam or a public competitive exam like a civil service exam. The Ministry of Justice explains that it decided on the number of successful candidates considering the original purpose of introducing law schools, but this controversy seems to have become an annual custom.

The AI Era, Fundamental Questions for the Legal Professional Training System

This is not simply a matter of increasing or decreasing the number of successful candidates. The rapid advancement of artificial intelligence (AI) is fundamentally changing the landscape of the legal profession. At the 2026 American Economic Association (AEA) annual meeting, a shocking diagnosis was made: “One should not choose the legal profession as a career in the future.” It is already an open secret that law firms are entrusting legal research to AI instead of hiring new lawyers.

• AI perfectly replaces basic tasks that new lawyers used to handle, such as case analysis and drafting documents.
• As work can be handled by experienced senior lawyers and AI alone, law firms are losing the incentive to train new recruits.
• This is tantamount to ‘pulling up the ladder’ for those who dream of entering the legal profession. The bottleneck where opportunities to gain practical experience are not even available is intensifying.
• Even if the demand for legal services increases, the prevailing view is that AI will absorb a significant portion of that demand, not human lawyers.

In this situation, questions are being raised about whether the existing legal professional training system is suitable for the future era. It is a natural progression that voices are growing for a new approach that goes beyond simply ranking by exam scores, to determine what competencies are needed for legal professionals in the AI era.

Initiation of a Preliminary Bar Exam, a Signal for Law School System Reform?

As conflicts surrounding the law school system and the bar exam continue, concrete movements for institutional improvement are finally being observed. Recently, a bill to introduce a ‘Preliminary Bar Exam’ was proposed. This bill states that individuals who have completed a certain number of credits in law subjects, even without graduating from law school, will be granted eligibility to take the bar exam.

• The preliminary exam will be held once a year, consisting of multiple-choice questions in subjects such as constitutional law, civil law, and criminal law, and the number of successful candidates cannot exceed one-fifth (400 people) of the law school admission quota.
• An interesting point is the clause that law school students, those on leave of absence, or graduates cannot take the preliminary exam. This appears to be an attempt to create a crack in the law school-centric legal professional training system.
• The Bar Exam Management Committee also acknowledged the problems of the law school system and adopted recommendations for developing medium- to long-term improvement directions. These include the introduction of an absolute grading system for elective subject exams, and the development of credit completion systems and standardized academic achievement evaluation indicators.

These recommendations and the preliminary exam introduction bill demonstrate a commitment to improving the legal professional selection and training system, comprehensively considering the changed legal market environment, population decline, and AI introduction, among other factors, 15 years after the introduction of the law school system. It remains to be seen whether these attempts can inject new vitality into the rigid legal profession.

The announcement of the 2026 Lawyer Bar Exam successful candidates has become an opportunity to illuminate both the present and future of the legal profession, beyond mere numbers. From the pass rate controversy and the ‘five-strike rule’ issue to the advent of the AI era, the legal professional training system is now at a critical turning point. It is urgent to find wise solutions through social consensus on which direction to take next.

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In fact, NVIDIA’s trajectory signifies more than just a simple stock price increase. It also serves as a crucial indicator for glimpsing the future of AI technology. From now on, we will sharply analyze the real reasons why NVIDIA is overcoming ‘AI peak’ theories and once again drawing market expectations.

Record-Breaking Performance and Unrivaled AI Infrastructure Dominance

NVIDIA’s recent performance is truly overwhelming. For the first time ever, its annual revenue for fiscal year 2026 surpassed $200 billion. Notably, data center revenue surged by 75% year-over-year, driving overall growth. This is all thanks to the transition to GPU-accelerated computing. With companies investing astronomical sums in building AI infrastructure, NVIDIA’s GPUs are becoming the core driving force.

While competitors have also jumped into AI chip development, NVIDIA’s accumulated technological superiority remains robust. It’s also important to note that they aren’t just selling hardware; they are employing an integrated AI platform strategy that encompasses everything from AI model training to inference, deployment, and operation. Ultimately, NVIDIA is exclusively providing the essential infrastructure for the AI era, effectively holding a ‘golden goose.’ In such a situation, isn’t a rising stock price a natural outcome?

• First-ever annual revenue exceeding $200 billion: For fiscal year 2026, direct evidence of exploding AI infrastructure demand.
• Data center revenue surged 75%: Demonstrates its unrivaled position in the AI accelerated computing market.
• Integrated AI platform strategy: Secured competitive advantage by building an ecosystem that spans hardware and software.

GTC 2026: Innovation Quells Market Concerns

NVIDIA’s annual developer conference, ‘GTC 2026,’ held last March, once again astonished the world. CEO Jensen Huang unveiled the next-generation AI data center platform, ‘Vera Rubin,’ and the AI GPU architecture, ‘Rubin Ult.’ Particularly noteworthy was the fact that AI itself revolutionized the semiconductor design process. The announcement that AI completed a task that would take human engineers 10 months in just one night was truly shocking. This demonstrates that AI is not merely an auxiliary computational tool but is penetrating even creative domains.

Furthermore, NVIDIA introduced ‘Vera CPU,’ a new CPU optimized for AI agent workloads, challenging the existing CPU market. The first global unveiling of a new AI model and AI assistant, ‘Nemoclo,’ in Korea (excluding its home country) also underscores the importance of the Korean market. Such technological innovation and market expansion strategies serve as powerful rebuttals to those who advocate ‘AI peak’ theories. NVIDIA continues to evolve without stopping.

• ‘Vera Rubin’ platform and ‘Rubin Ult’ GPU architecture unveiled: Set the standard for next-generation AI technology.
• AI-driven semiconductor design innovation: Significantly shortens development time, strengthening competitive advantage.
• ‘Nemoclo’ first unveiled in the Korean market: Acknowledges the importance of the Korean AI ecosystem and strengthens strategic cooperation.

NVIDIA Stock Outlook Amidst Intensifying Competition

Of course, NVIDIA’s path is not entirely smooth. Competitors like AMD and Intel are accelerating their own AI chip development, and big tech companies such as Google and Microsoft are releasing custom AI chips, putting a brake on NVIDIA’s dominance. In particular, the AI chip market is also showing signs of expanding from training GPUs to inference CPUs. This intensifying competition can ultimately fuel market concerns about NVIDIA’s stock price.

Currently, the outlook for NVIDIA’s stock is mixed. Some expect it to rise to an average of approximately $396.52 by the end of 2026, but at the same time, macroeconomic factors such as surging oil prices and a sell-off in software stocks are also putting downward pressure on the stock price. Ultimately, NVIDIA faces the challenge of maintaining market dominance through technological innovation while flexibly responding to intensifying competition and changes in the external environment.

• AMD, Intel, and other competitors accelerating AI chip development: The competitive landscape of the AI chip market is becoming more intense.
• Big tech companies developing their own AI chips: Google TPU, Microsoft’s custom chips, etc., could affect NVIDIA’s market share.
• Macroeconomic uncertainty: External factors such as oil prices and trade conflicts can increase stock price volatility.

NVIDIA’s stock price is more than just a company’s performance; it’s a crucial indicator of the entire AI industry’s trajectory. While it refutes ‘AI peak’ theories with technological innovation and market dominance, it also faces the challenges of fierce competition and macroeconomic variables. It remains to be seen whether NVIDIA can overcome all these difficulties and firmly maintain its position as the leader of the AI era.

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As data centers are being labeled not just ‘power-hungry behemoths’ but also ‘major culprits of environmental problems,’ concerns about sustainability are deepening as much as the pace of technological development. How will this massive digital infrastructure navigate these challenges? Let’s delve into the real reasons and solutions now.

The AI Era: Data Centers Become Power-Hungry Behemoths

The explosive growth of the artificial intelligence industry has driven data center power consumption to unimaginable levels. As demand for large language models (LLMs) and generative AI training surges, the density and power consumption of GPUs and AI accelerators have become incomparable to the past. In such an environment, the heat density generated by a single server is also enormous. The proportion of total U.S. electricity consumption accounted for by data centers surged from 1.9% in 2018 to 4.4% in 2023, with projections indicating it could skyrocket to a staggering 12% by 2028.

The problem goes beyond simply high power consumption. AI data centers exhibit unusual power consumption patterns. This has led to analyses suggesting that the U.S. power grid might not be able to cope, potentially leading to large-scale blackouts. Indeed, ultra-large data centers like OpenAI’s ‘Stargate1’ are reportedly expected to consume over 1 gigawatt (GW) of power. Perhaps for this reason, power shortages are now identified as the biggest bottleneck in data center construction. The impact of this surge in power demand is as follows:

• Rapid increase in GPU and AI accelerator power consumption due to increased AI workloads
• Growing proportion of data center power consumption in total national electricity consumption
• Increased power grid instability due to abnormal power consumption patterns
• Potential for large-scale blackouts due to the construction of gigawatt (GW)-class data centers

Environmental Regulations and Public Opposition: An Unavoidable Reality

As the perception of data centers as ‘power-hungry behemoths’ spreads, local residents’ opposition and environmental regulations have become an unavoidable reality. Specifically, there have been cases in the Silicon Valley area where data center construction was abruptly halted due to power and water shortages. The Oakley City Council in California unanimously approved a 45-day moratorium on accepting and reviewing land use applications related to data centers, a measure that could be extended for up to two years. Strong public opposition to the massive electricity and water consumption caused by large-scale data centers is the background for this decision.

Across the U.S., at least 48 data center projects were reportedly halted or delayed in 2025 alone due to local public opposition. While data centers appear to be quiet buildings on the outside, they are, in reality, closer to industrial facilities that consume massive amounts of power and water. Some facilities use millions of liters of water per day. A power company official explained that when a single data center is built, the regional power demand structure itself changes. The main reasons for local residents’ opposition are as follows:

• Concerns about resource depletion due to massive electricity and water consumption
• Environmental debates over power grid expansion and new power generation facility construction
• Worsening shortages of agricultural and domestic water in drought-prone areas
• Controversy over massive tax incentives compared to the number of jobs provided

Technological Innovation and Challenges for Sustainability

The power shortages and environmental problems surrounding data centers are ultimately challenges that must be solved through technological innovation. In particular, highly efficient and reliable thermal management strategies have emerged as key to responding to the ultra-high heat generation environment caused by increasing AI workloads. Beyond air cooling systems, the spread of liquid cooling is accelerating. The adoption of cold plate-based liquid cooling systems is rapidly increasing, especially for high-power GPU servers, and some large data centers are even implementing immersion cooling. Liquid is much more efficient at heat transfer than air, making it a more effective alternative in high power density environments.

Furthermore, as improving power usage effectiveness (PUE) becomes a critical task in data center operations, thermal design is also being approached from an energy-saving perspective. Beyond simply lowering temperatures, optimizing structural design to maintain maximum performance for the same power consumption is emerging as a key factor. The accelerating transition to ‘AI-native data centers’ is also noteworthy. All data center functions, from workload placement to cable diagnostics, will be AI-assisted, and energy efficiency management and power cost negotiation are expected to be automated. These efforts are essential for increasing the sustainability of data centers.

• Expansion of liquid cooling technologies (e.g., liquid cooling, immersion cooling) to address high-density heat generation
• Transition to energy-efficiency-centric design to improve Power Usage Effectiveness (PUE)
• Energy efficiency management and optimization through AI-based autonomous operating systems
• Strengthening integrated thermal design at the system level and applying thermal simulations

Data centers are essential infrastructure for our era. While facing the enormous challenges of power shortages and environmental issues, efforts for technological innovation and sustainable operation will continue. Ultimately, evolving into more efficient and eco-friendly data centers by turning this crisis into an opportunity is the path we must take.

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Along with external variables, chronic labor shortages, and a rapidly changing technological environment, the construction industry is currently facing multiple challenges simultaneously. Let’s take a look together at how the Korean construction industry will find solutions and what changes it needs to prepare for amidst this complex crisis.

Middle East Risk: Will It End with a Simple Extension of the Construction Period?

The government’s recognition of the Middle East war as a force majeure is indeed a sigh of relief for construction companies. The surge in raw material prices and logistics disruptions had created immense pressure on construction costs. Especially when the supply of key materials like oil, asphalt, and rebar becomes unstable, it becomes really difficult to keep the sites running. This measure allows private construction sites to extend construction periods or adjust contract amounts, but it’s hard to believe this will solve all problems.

Honestly, the situation in the Middle East is not something that will be resolved in the short term. If it prolongs, simply extending the construction period won’t be enough. Construction companies are now burdened with the need to manage risks proactively and establish systems that can respond flexibly. So, what should the construction industry focus on in this situation?

• Key Contents of Force Majeure Recognition
  • Recognition of the Middle East war situation as a force majeure under the standard private construction contract
  • Opening up possibilities for construction period extensions and contract amount adjustments
• Future Challenges
  • Establishing fundamental countermeasures for long-term volatility in raw material prices
  • Strengthening risk management for overseas projects and diversifying supply chain strategies

AI Transforms Construction Sites: Becoming a ‘Data Company’

Watching the industry falter every time an external risk emerges, I realized that the ultimate answer lies in technological innovation. Especially these days, artificial intelligence (AI) is penetrating even the ‘last analog domain’ of the construction industry, shaking up the industry structure itself. As the entire process from design to construction, supervision, and maintenance is being reorganized based on data, the labor-intensive construction industry is rapidly transitioning into a ‘technology-intensive industry.’

Major domestic construction companies are already accelerating the adoption of AI. GS E&C defines physical AI as a core competitiveness, and Daewoo E&C is sharing its achievements in smart construction. Companies like POSCO E&C are even holding an ‘all-company AI challenge’ to change everything from report writing to working methods using AI. Now, construction companies are no longer just ‘companies that build buildings,’ but are transforming their identity into ‘data companies’ that accumulate and utilize data.

• Key Changes from AI Technology Adoption
  • Acceleration of digital transformation across all processes including design, construction, and operation
  • Transition from a labor-intensive industry to a technology-intensive industry
  • Reduction of serious accident risks through advanced safety and quality management
  • Successful cases of digitalizing procurement systems by ConTech startups like ‘Gongsaero’
• Expected Effects
  • Improved productivity and shortened construction periods
  • Transition to high-value-added businesses and risk reduction
  • Creation of new business models and expansion of sustainable growth possibilities

Chronic Labor Shortage: A Challenge to Be Solved with Technology and Culture

No matter how much technology advances, it’s ultimately people who run the sites. But as you all know, our construction industry is suffering from a severe labor shortage. The influx of young workers is decreasing, and skilled technical personnel are aging, leading to side effects like process delays and reduced productivity already appearing on site.

The number of students entering construction-related departments continues to decline, and the proportion of technical personnel in their 20s plummeted from 71% in 2014 to 45% in 2023. Conversely, the proportion of middle-aged and older workers (40s and above) significantly increased from 13% to 41%, showing how serious the aging problem is. To solve such structural labor issues, a long-term approach is needed rather than short-term remedies. Efforts to change the construction site culture itself, along with technology adoption, are desperately needed.

• Current Status of Construction Labor Shortage
  • Deepening shortage of skilled technical personnel and accelerating aging
  • Decreased influx of young people into construction sites
  • Approximately 190,000 construction workers left the industry in just four years compared to 2021
• Efforts for Solution
  • Maximizing labor efficiency through the adoption of smart construction technologies
  • Enhancing job attractiveness through construction culture improvement (diversity, fairness, inclusivity)
  • Expanding training programs for technical personnel in small and medium-sized enterprises and industry-academia-research cooperation

As always, the construction industry has persistently endured countless crises. I believe it will find solutions even amidst the current Middle East risks, chronic labor shortages, and the inevitable wave of digital transformation. What’s important is not just solving immediate problems, but rather adopting an attitude of improving the industry’s fundamental structure and preparing for the future from a long-term perspective.

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Exactly 10 years later, in 2026, we are living amidst the questions and changes AlphaGo brought forth. Shall we frankly discuss how the events on the Go board back then impacted the future of humanity beyond a simple game, and how far AI has come today?

The Match of the Century: AlphaGo and Lee Sedol 9-dan

Honestly, everyone was surprised watching that match, weren’t they? The very idea of artificial intelligence beating a human in Go was hard to imagine. AlphaGo had already won against Fan Hui 2-dan in 2015, but the match against Lee Sedol 9-dan truly captivated the attention of people worldwide. In particular, the 4th game, where Lee Sedol 9-dan achieved his sole victory, is still talked about today for its ‘divine move’.

This match went beyond the rules and strategies of the game of Go, prompting deep reflection on the potential of artificial intelligence. Many believed that AI could not mimic human intuition and creativity, but AlphaGo made unexpected moves, shaking up the conventional wisdom of the Go world.

• AlphaGo’s Groundbreaking Victory: In March 2016, it defeated Lee Sedol 9-dan 4-1, impressing the world with the capabilities of artificial intelligence.
• Lee Sedol 9-dan’s ‘Divine Move’: Lee Sedol 9-dan’s 78th move in the 4th game is regarded as a move that induced an error in AlphaGo, remembered as a masterpiece demonstrating human creativity.
• Paradigm Shift in the Go World: After AlphaGo’s appearance, professional Go players began to research new joseki and fuseki through AI, completely changing the way Go is studied.

AlphaGo’s Evolution and the Advancement of AI Technology

AlphaGo was not just a project for Go. The DeepMind development team developed this technology with the goal of a single artificial intelligence that could be applied to all IT services. Even after the match with Lee Sedol 9-dan, AlphaGo continued to evolve. ‘AlphaGo Zero’ emerged, becoming even more powerful by learning purely from self-play without human game records, and then ‘AlphaZero’, a general-purpose AI that mastered not only Go but also chess, shogi, and all two-player perfect information games.

The core of this evolution lies in technologies like deep learning and reinforcement learning. AlphaGo improved its skill by learning from vast amounts of data and finding optimal moves through self-play. Initially, it used GPUs, but later, Google’s self-developed TPUs (Tensor Processing Units) enabled more efficient computation.

• AlphaGo’s Core Technology: Combines trained deep neural networks (DNN) with Monte Carlo tree search (MCTS) to find optimal moves.
• Evolved Learning Methods: Initially, it used both supervised learning and reinforcement learning, but subsequent models like AlphaGo Master and Zero improved their skill solely through reinforcement learning without supervised learning.
• Diverse Hardware Utilization: Initially used CPUs and GPUs, and later utilized TPUs specialized for deep learning to maximize computational efficiency.

2026: The Significance of 10 Years After AlphaGo

In 2026, the 10th anniversary of the AlphaGo vs. Lee Sedol 9-dan match, artificial intelligence has become such a natural part of our lives. In the Go world, AI acts as a ‘teacher’, proposing new fuseki and strategies, and Lee Sedol 9-dan even participated in an experiment to design ‘future Go’ with AI again after 10 years. Lee Sedol 9-dan now goes so far as to say, “AI is simply a god.”

AlphaGo has retired from Go, but its technology has expanded into various fields such as drug discovery, climate change prediction, autonomous vehicles, and medical diagnosis. In particular, in 2026, expectations for ‘physical AI’ with physical forms like autonomous cars and robots are growing. The possibilities demonstrated by AlphaGo continue to inspire the journey towards artificial general intelligence (AGI). Isn’t it truly amazing that the innovation that began on a Go board is now contributing to solving complex problems in the real world?

AlphaGo was more than just a program that played Go well; it posed fundamental questions about how far artificial intelligence can develop and how humans and AI can coexist. 10 years later, we are in the process of finding answers to those questions, and it seems inevitable that we are even more excited about the future that AI will create.

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Playing His Hand with ‘Entrepreneurship’ and ‘AI’

In his 2026 New Year’s address, Chairman Chey Tae-won emphasized ‘entrepreneurship’ as the starting point for industrial competitiveness and growth. This was based on the judgment that past methods of success would make it difficult to overcome the current complex crisis. Without a challenging spirit to pioneer new paths, one would inevitably be swept away by the tide of change. Furthermore, he identified ‘Artificial Intelligence (AI)’ as the trend of the times and a new growth engine, stressing that not only SK Group but the entire Korean economy must innovate based on AI. Isn’t his diagnosis that AI is fundamentally reshaping the global industrial structure truly realistic? Perhaps that’s why SK Group announced its plan to build an ‘AI integrated solution’ to lead the global AI ecosystem.
Personally, I believe Chairman Chey Tae-won’s insight is truly important. It’s about focusing on creating new value through AI and transforming the corporate structure, beyond simply adopting technology. He even issued a strong warning, calling it “almost the last period” where the Korean economy will either go into negative growth or create a new year of growth. His words that “terrible things” will happen if things continue as they are truly woke me up. His words can be said to be a powerful message that goes beyond mere ‘expectation control’ for the Korean economy.

The ‘Gambler’s Instinct’ Hidden Behind SK Hynix’s Success

This gambler’s instinct of Chairman Chey Tae-won also shone through in the success story of SK Hynix. Honestly, when the decision to acquire Hynix was made, there was considerable opposition even within the group. However, Chairman Chey recognized the HBM (High Bandwidth Memory) trend early on and strengthened cooperation with global leading companies like Nvidia and TSMC, elevating SK Hynix to its current position. As a result, SK Hynix recorded an all-time high operating profit of over 23 trillion won as of 2024, and its quarterly operating profit is projected to exceed 10 trillion won in the third quarter of 2025. I believe this would have been impossible without such bold decisions and leadership.
Thanks to his leadership, SK Hynix has secured an unrivaled position in the HBM market, a core component of the AI era. This wasn’t just luck; it should be seen as the result of foresight and bold execution. His discernment in recognizing the hidden value of Hynix, which was treated as a “white elephant” at the time, is truly remarkable.

Loving Sports and Advocating ‘Beopgochangsin’

Chairman Chey Tae-won has many interesting aspects outside of business. He is especially well-known as a sports enthusiast, frequently attending games as the owner of the Seoul SK Knights basketball team. Personally, he enjoys tennis, and due to his past as a handball player in his school days, he has served as the president of the Korea Handball Association since 2008, supporting less popular sports. The fact that he led the improvement of poor handball conditions and even the construction of the first dedicated handball stadium in Korea truly shows his sincerity.
Furthermore, he presented ‘Beopgochangsin (法古創新)’ and ‘Seungpungparang (乘風破浪)’ as key themes for 2026. These mean to create new things by emulating the old, and to ride the winds of change to overcome rough waves, respectively. This seems to be underlying his overall management philosophy. It’s a glimpse into his will to constantly innovate and not just remain in past success formulas. Isn’t it thanks to these aspects that his messages resonate even more?
The messages Chairman Chey Tae-won delivers to the Korean economy and SK Group in 2026 ultimately seem to converge on ‘change and innovation.’ It’s about pioneering new paths through entrepreneurship and seizing the massive trend of AI as an opportunity to move forward. I hope his vision and leadership will have a positive impact on our society as a whole. Personally, each of his remarks has been quite intriguing lately.

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The Power of the ‘EPS Rally’: Index Driven by Corporate Earnings

Honestly, I don’t think this KOSPI surge is merely a speculative rally. The key is corporate earnings. Securities firms are successively raising their 2026 KOSPI targets, and the background for this is ‘record-high upward revisions in earnings forecasts’. In the past, stock prices often rose first, leading to increased valuation burdens, didn’t they? But this time is different. Analysis suggests that the 12-month forward EPS (Earnings Per Share) forecast is rising along with stock prices, resetting the index’s upper limit itself.
This means it’s closer to an ‘EPS-driven rally’ rather than a ‘PER-overstretched rally’. The contribution of the semiconductor industry’s earnings is particularly significant. With earnings expectations for semiconductor leaders like Samsung Electronics and SK Hynix at record levels, it’s fair to say that their profits are pulling KOSPI up by the scruff of its neck. Korea Investment & Securities presented a 2026 KOSPI target of 5650, and DB Financial Investment even projected it could open up to 7044 points. Isn’t this absolutely crazy?

Semiconductors and AI: New Growth Engines for the Korean Economy

The Korean economy is expected to grow by 1.8-1.9% overall in 2026. This is a clear improvement from 2025, but what’s noteworthy here is the change in the growth method. In the past, exports led the way, but now, domestic demand recovery, including private consumption and construction investment, is expected to be the central axis of growth. However, that doesn’t mean exports are losing their power. In particular, semiconductor and AI-centric investments continue, changing the direction of growth for the Korean economy.
With the global AI cycle not yet over, combined with worldwide liquidity expansion and government policies to boost the stock market, there are even predictions that the Korean stock market could perform better than the US. The high valuation burden in the US also increases the likelihood of capital flowing into the Korean market, so ‘retail’ investors should also pay close attention to these trends. The top sectors commonly cited by major securities firms are semiconductors, AI infrastructure, and power equipment.

The Power of Retail Investors and Market Volatility

Another characteristic of the Korean stock market is the high proportion and significant influence of individual investors. The surge of Samsung Electronics stock to 90,000 won in 2021, and EcoPro’s rise to 1.5 million won last year, were ultimately thanks to massive buying by individual investors. A public opinion poll also showed that nearly half of the population expects the Korean stock index to rise in 2026, so the expectations of retail investors are clearly an important factor driving the market.
Of course, the market cannot be without volatility. External factors such as interest rate cuts, exchange rate fluctuations, and geopolitical risks always affect stock prices. It’s also important to remember that the Korean stock market tends to react particularly sensitively to dollar movements. In such a situation, rather than being swept away blindly, it seems like now is the time for prudent judgment, investing based on corporate fundamentals and the long-term growth potential of industries.

KOSPI200, A Key Market Indicator

Just as important as the KOSPI index is the KOSPI200 index. This is a representative index of the Korean stock market and is used as a trading target index in the derivatives market. It gathers the top 200 companies by industry in the Korean stock market, so its reliability is very high. The KOSPI200 constituent stocks are changed annually on the day after the second Friday of June, and are selected by comprehensively considering market representativeness, liquidity, and marketability.
When selecting constituent stocks, newly listed stocks less than one year old and administrative issues are excluded, and the market capitalization proportion by industry group is also considered, so not just any company gets in. Ultimately, being included in the KOSPI200 means being recognized by the market, so it’s good to refer to it when investing.
The 2026 KOSPI market looks like it will be a very interesting year. Expectations are high, especially given that it’s a bull market supported by corporate earnings. Of course, the market always holds unpredictable variables, but by understanding these major trends and responding wisely, couldn’t we seize good opportunities?

게시물 Beyond KOSPI 5000 to 7000? The Real Reason for the 2026 Bull Market!이 솜삽 블로그에 처음 등장했습니다.