The KOSPI, South Korea’s main stock market index, recorded its worst month ever with a 23% decline in July 2026, bringing the index down 34% from its June peak. This correction has brought global leaders in AI HBM memory, ultra-high voltage transformers for datacenters, armaments, and robotics back to attractive levels. The three main Korean transformer manufacturers hold approximately 25% of the US market with order books filled for 5 to 6 years, and their exports reached a record 1.3 billion dollars. SK Hynix remains the undisputed global leader in HBM memory, while Samsung Electronics has caught up by obtaining HBM4 qualifications alongside its competitor. The market is also supported by the government Value-Up program, aimed at reducing the historical discount on Korean stocks and strengthening shareholder returns.
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