Goldman Sachs Cuts KOSPI Target to 9,000 as Chip Valuations Signal 65% Earnings Drop

Goldman Sachs reduced its 12-month KOSPI target to 9,000, citing chip valuations that imply a 65% fall in 2027 sector earnings. Samsung Electronics and SK Hynix are set to report earnings this week, providing the first test of that view. The KOSPI closed at 5,550.30 on October 23, and the new target implies about 62% upside from that close.