Goldman Sachs Cuts Its Price Target for South Korea’s KOSPI

Goldman Sachs lowered its 12-month forecast for South Korea’s KOSPI by a quarter, setting a 9,000 target versus 12,000 and returning to its level before a June 3 upgrade. The index closed at 5,550.30 on October 23; the new target implies about 62% upside, while its 2026 gain has shrunk to 28.79% from roughly 116% at the June peak. Memory chipmakers make up about half the index, and Goldman says current valuations imply a 65% fall in 2027 sector earnings, a view it calls excessively pessimistic. SK Hynix reports October 28 and Samsung Electronics October 29, when outlook comments on 2027 pricing and orders may test that assumption.