Goldman Sachs Sticks to 12,000 KOSPI Target Amid AI-Driven Boom

Goldman Sachs has reaffirmed its bullish forecast for the KOSPI, predicting it could rise to 12,000. The bank cited the prolonged boom in memory semiconductors driven by artificial intelligence as a key driver of further gains.

In an interview with Bloomberg News on September 7, Timothy Moe, Goldman Sachs' chief Asia-Pacific equity strategist, said that investors are underestimating how long this earnings boom will last. The KOSPI has already risen significantly since the target was raised to 12,000 from 9,000 in early June.

The memory semiconductor market is expected to remain strong due to a shortage caused by the race to build data centers. Goldman Sachs also increased its estimate for capital spending by major U.S. technology companies next year to $1.2 trillion, which will further stimulate demand for memory-intensive computing.