Korea JoongAng Daily - Daily News from Korea

This article is by Sarah Chea and read by an artificial voice.

LAS VEGAS — At CES 2026, Hyundai Motor Group's four-legged MobED platform robot won the Best of Innovation award, the program's highest distinction, in the robotics category for its ability to maintain stable movement, even across unpredictable terrain.

It marks Hyundai's first-ever win at the CES Innovation Awards.

Measuring 74 centimeters (29 inches) in width and 115 centimeters in length, MobED comprises a rectangular chassis supported by four independently controlled wheels, which enables the robot to move reliably and at practical speeds, even in rough or obstructed environments.

Conceived as a multipurpose mobility platform, MobED is designed for broad application across industries, including logistics delivery, security patrols, video production, guidance services and personal mobility, according to Hyundai.

Another one of MobED's defining strengths is its ergonomics. The robot features a highly intuitive and user-friendly interface, allowing operators to control it with minimal training.

In addition, its controller uses a 3-D graphics-based touch screen, heightening its visual intuitiveness and strengthening its user accessibility.

The robot can reach a top speed of 10 kilometers (6.2 miles) per hour and can operate for more than four hours on a single charge. Depending on the model configuration, it supports a maximum payload of 47 kilograms (103.6 pounds) to 57 kilograms.

MobED offers two models: MobED Basic, designed as a research and development tool for autonomous robotics, and MobED Pro, which has full autonomous driving capabilities.

The Pro is equipped with AI-driven algorithms and a sophisticated fusion of laser imaging, detection and ranging — or LiDAR — technology and camera sensors, enabling safe and efficient autonomous navigation in complex indoor and outdoor environments alike.

Mass production and customer sales are set for the first quarter of this year.

"This Best of Innovation award demonstrates how Hyundai's robotics technology is evolving to enhance everyday life," said Hyun Dong-jin, the head of Hyundai's Robotics LAB. "Just as we unveiled MobED as a concept at CES four years ago and have now returned with a production-ready model, we will continue advancing AI-based autonomous robotics technologies to deliver innovative solutions that matter to our customers."

This article is by Sarah Chea and read by an artificial voice.

LAS VEGAS — At CES 2026, Hyundai Motor Group's four-legged MobED platform robot won the Best of Innovation award, the program's highest distinction, in the robotics category for its ability to maintain stable movement, even across unpredictable terrain.

It marks Hyundai's first-ever win at the CES Innovation Awards.

Measuring 74 centimeters (29 inches) in width and 115 centimeters in length, MobED comprises a rectangular chassis supported by four independently controlled wheels, which enables the robot to move reliably and at practical speeds, even in rough or obstructed environments.

Conceived as a multipurpose mobility platform, MobED is designed for broad application across industries, including logistics delivery, security patrols, video production, guidance services and personal mobility, according to Hyundai.

Another one of MobED's defining strengths is its ergonomics. The robot features a highly intuitive and user-friendly interface, allowing operators to control it with minimal training.

In addition, its controller uses a 3-D graphics-based touch screen, heightening its visual intuitiveness and strengthening its user accessibility.

The robot can reach a top speed of 10 kilometers (6.2 miles) per hour and can operate for more than four hours on a single charge. Depending on the model configuration, it supports a maximum payload of 47 kilograms (103.6 pounds) to 57 kilograms.

MobED offers two models: MobED Basic, designed as a research and development tool for autonomous robotics, and MobED Pro, which has full autonomous driving capabilities.

The Pro is equipped with AI-driven algorithms and a sophisticated fusion of laser imaging, detection and ranging — or LiDAR — technology and camera sensors, enabling safe and efficient autonomous navigation in complex indoor and outdoor environments alike.

Mass production and customer sales are set for the first quarter of this year.

"This Best of Innovation award demonstrates how Hyundai's robotics technology is evolving to enhance everyday life," said Hyun Dong-jin, the head of Hyundai's Robotics LAB. "Just as we unveiled MobED as a concept at CES four years ago and have now returned with a production-ready model, we will continue advancing AI-based autonomous robotics technologies to deliver innovative solutions that matter to our customers."

The author is an architect and a former president of the Korea National University of Arts.

The first country in the world to welcome the new year is Kiribati, an island nation scattered across the South Pacific. To eliminate the inconvenience of having its territory divided by the International Date Line, the country shifted the line some 2,700 kilometers (1,678 miles) eastward. Its national flag, adopted at independence in 1979, depicts a rising sun over ocean waves and a frigatebird soaring far from land, symbols of hope and distance.

Yet behind that hopeful imagery lies an existential crisis. Kiribati faces the prospect of disappearance as rising sea levels steadily engulf its land. Of the country's 17 islands, 16 are coral atolls with an average elevation of just two meters above sea level. At the current pace of climate change, scientists predict that they could be fully submerged by 2050. Coastal villages are already eroding, farmland has been ruined by salt intrusion and freshwater supplies have been contaminated.

With a population of about 120,000 and a per capita GDP of roughly $2,000, Kiribati is a small and resource-poor nation. Still, it has made efforts to adapt, building seawalls and relocating some communities to higher ground. These measures, however, have proven insufficient in the face of sweeping environmental change. As a result, the government has adopted a policy of "migration with dignity."

Kiribati has signed migration arrangements with Australia and secured state-owned farmland in Fiji. It is also working to establish a migration trust fund using revenue from its vast exclusive economic zone, one of the largest in the world. Even so, many citizens remain reluctant to leave, insisting that relocation is not a true solution.

In 2020, the Young Architects Competition organized an international design contest focused on Kiribati, inviting ideas to sustain island communities despite flooding. A young Korean team that placed second proposed stilted housing built over the sea. The first-prize design was more practical, envisioning small floating pentagonal units that could be clustered together. Some units would serve as homes, while others would serve as gardens or fishing facilities, allowing for flexible and potentially limitless combinations.

Ultimately, the only fundamental solution lies in addressing global climate change itself and halting the sea-level rise. It is a path widely acknowledged yet rarely chosen. Former President Teburoro Tito, who served as president from Oct. 1, 1994, to March 28, 2003, once lamented that island nations are like ants, while industrialized countries are elephants. As the new year begins, there is hope that the elephants will awaken and begin to shoulder their responsibility.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

The author is an editorial writer at the JoongAng Ilbo.

Divided by the Han River, Seoul reflects a stark contrast between Gangbuk, rich in history and central functions yet lagging in development, and Gangnam, whose newer, master-planned neighborhoods have long set the pace for housing demand and prices. Much of northern Seoul, known as Gangbuk, can feel as if time has stopped. In many neighborhoods, especially farther from the city center, roads are narrow, traffic congestion is routine and aging buildings are common. While multiple subway lines intersect across Gangnam, as the area south of the Han River is called, Gangbuk's network is sparse and uneven. This extreme asymmetry lies at the heart of Seoul's housing anxiety.

Last year, apartment prices in Songpa District rose by 21 percent, while those in Jungnang District increased by just 0.79 percent. After the Moon Jae-in administration tightened regulations on owners of multiple homes, demand increasingly concentrated on a single high-quality property, a trend often described as "one solid home." As price polarization deepened, complaints that "housing prices have gone mad" became widespread. Even President Lee Jae Myung has acknowledged that there is no easy solution to soaring home prices in the Seoul metropolitan area.

The problem is not a shortage of housing units in absolute terms, but a lack of homes people genuinely want to live in. Livable environments and high-quality housing remain scarce. Is there a way out? If Gangbuk could be made as attractive as Gangnam, demand might spread more evenly, easing the relentless pressure on southern Seoul.

A look at conditions on both sides of the river is instructive. Shortly before the Covid-19 pandemic, a walk through the back alleys of Chungjeongno in Seodaemun District revealed walls and staircases coated in bright paint. The aim was to prevent indiscriminate redevelopment and protect residents. Such neighborhoods were not unusual across Gangbuk at the time.

Gangnam, by contrast, continued to reinvent itself. Recently, while passing new apartment complexes in Samseong and Cheongdam, it was hard not to be stunned by price listings posted in real estate offices. Apartments of standard size were advertised starting at 6 billion won (about $4.2 million). Access roads were wide and smoothly paved, underscoring the contrast with much of the north.

This stark disparity suggests that stabilizing Seoul's housing market may depend as much on raising Gangbuk's appeal as on expanding supply in Gangnam. Gangbuk is central to Seoul's identity and holds vast untapped potential. Palaces, fortress walls and historic homes preserve the essence of Korean heritage. Yet for years, the area has been dismissed as old and inconvenient. Although it contains many cultural assets, few have been widely promoted or effectively showcased.

True preservation does not mean freezing a city in time. In London's Tate Modern or Paris's Marais district, historic areas gained new life by blending old structures with contemporary creativity. When aging neighborhoods are reimagined rather than abandoned, tradition and innovation can reinforce each other.

Tokyo offers a compelling example. Last year, it ranked second globally on the Global Power City Index, surpassing New York, driven in part by a surge in foreign tourists. Since 2002, Japan has eased building regulations and combined historical spaces with cutting-edge urban functions. By injecting new energy into aging districts, Tokyo dispersed housing demand beyond a handful of popular areas and revitalized the city as a whole.

Similar changes are not unheard of in Korea. Last year, the number of foreign visitors to Busan surpassed three million. The city's appeal has risen dramatically, reflecting years of effort to reinvent itself.

The housing price surge fueled by Gangnam-centric demand is tightening the squeeze on household finances. According to the Bank of Korea, cumulative household debt since 2013 ...

Choi Hyeon-chul

The author is the acting editor-in-chief at the JoongAng Ilbo.

Coupang has replaced the head of its Korea unit amid mounting pressure over a massive customer data breach and allegations that it sought to cover up industrial accidents. The company appointed Harold Rogers, the chief administrative officer and head of legal affairs at its U.S. headquarters, to succeed former Korea CEO Park Dae-jun, a Naver veteran known for his understanding of the local e-commerce market.

At his first appearance in Korea — a parliamentary hearing last week — Rogers showed little sign of remorse. He repeatedly argued that the breach involved only about 3,000 customers and insisted that the company's internal investigation was conducted "at the direction of the Korean government." He even asked why the government was concealing its findings. When lawmakers presented messages allegedly showing that Coupang founder Bom Kim, also known as Kim Beom-seok, had instructed executives to conceal industrial accidents, Rogers challenged their authenticity. Confronted with accusations that the company violated U.S. Securities and Exchange Commission rules by delaying disclosure beyond the four-business-day deadline, he responded that the information was deemed immaterial.

This was not a case of cultural misunderstanding or a momentary loss of composure. Rogers leads a company with an annual revenue nearing 40 trillion won ($27.7 billion) and is a legal expert who is well-versed in U.S. securities law. His posture suggested calculation rather than impulse. To understand how regulators should respond to a company that appears indifferent despite losing vast amounts of customer data and facing persistent workplace safety controversies, it is necessary to examine the intent behind this stance.

For Coupang, minimizing the scale of the data breach is paramount. Regardless of the nature of the information exposed, the company has framed the incident as involving only 3,000 records. The National Intelligence Service inadvertently reinforced this narrative. During a joint government investigation, officials reportedly met suspects separately, allowed contact with alleged accomplices and asked them to collect evidence on their own. For Coupang, this created an opportunity to construct an alibi. The primary suspect has fled to China, and the only physical evidence is a laptop that Coupang itself brought into Korea during its internal probe.

If this framing holds, it could strengthen the company's position in shareholder lawsuits in the United States related to alleged violations of disclosure rules. Administrative fines imposed by Korean authorities would then be a secondary concern.

Coupang may also believe it can rely on networks built through former officials. Reports recently surfaced that a retired senior police officer attempted to join Coupang as a department head but was blocked by the government ethics committee. At the Ministry of Employment and Labor, the minister is said to have warned officials that meeting with former regulators who have moved to Coupang could lead to "ruin," underscoring the level of official frustration with the company's recruitment of ex-government personnel. In the prosecution service, a senior prosecutor alleged that an investigation into the legality of Coupang's changes to its severance pay rules was derailed by interference from superiors. Several aides from lawmakers' offices have also joined Coupang's government relations team. From the company's perspective, time may allow these channels to become effective again.

Consumers locked into Coupang's ecosystem are the final line of defense. Overnight delivery has become an inescapable part of daily life. The monopoly built through massive capital investment has left consumers with few viable alternatives. Arguments that consumer boycotts should compensate for regulatory failures are weak. Leaving Coupang is neither easy nor likely to be permanent. The defiant to...

The United States under President Donald Trump carried out a surprise military operation on Saturday, arresting Venezuelan President Nicolás Maduro and transporting him to the United States.

The operation follows the Trump administration's new national security strategy announced late last year, which emphasizes strengthening U.S. dominance in the Western Hemisphere. Trump said the United States would "never allow external forces to plunder our people in the hemisphere or push us out of it," making clear that the goal was to remove the China-favoring Maduro regime. He added that Washington would "administer Venezuela until a safe, proper and prudent transfer of power is achieved."

China reacted sharply. Its foreign ministry said the United States had "seriously violated international law, infringed on Venezuela's sovereignty and threatened peace and stability in Latin America and the Caribbean." Beijing used Washington's own words against it, invoking U.S. criticism of China's unilateral actions that undermine peace and stability in the Taiwan Strait.

More troubling is the broader implication of Maduro's removal. The operation appears to reflect a shift from the United States acting as a "global police officer" to positioning itself as a "Western Hemisphere police officer," an approach some have dubbed "Donroeism," a blend of 19th-century Monroe Doctrine isolationism and Trump's worldview. This raises concerns about the ripple effects on Europe and Asia, where power vacuums could emerge if Washington tacitly accepts greater Russian influence in Europe and Chinese influence in Asia. It could mark the opening of an era of tacit accommodation among great powers.

In the near term, the U.S. action in Venezuela could increase the risk of China's miscalculation regarding Taiwan. It may also signal that Trump's commitment to North Korean denuclearization is weaker than during his first term. North Korea underscored that message on Sunday by staging its third ballistic missile launch since the current South Korean government took office, signaling to Washington and Seoul that it sees itself as a nuclear-armed state unlike Venezuela.

Against this backdrop of upheaval in the international security order, President Lee Jae Myung faces a heavy burden as he travels to China for his first summit with Chinese President Xi Jinping. After receiving what many in Seoul see as a U.S. "bill" embedded in last year's trade and security fact sheet, South Korea may now confront an equally demanding set of expectations from Beijing.

Since taking office last year, Lee has pursued pragmatic diplomacy that prioritizes ties with the United States and Japan, helping stabilize the fallout from the martial law crisis and lay the foundation for South Korea's foreign and security policy. In managing relations with China, Seoul should avoid being consumed by efforts to improve ties with North Korea and instead adapt to a transformed international order centered on the U.S.-China rivalry. With the United States as South Korea's ally and China as a crucial neighbor, a sober and realistic reading of global dynamics is more essential than ever.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

This article is by Seo Ji-eun and read by an artificial voice.

[EXPLAINER]

Korea's newly passed amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection — dubbed the Network Act — has triggered an unusually blunt response from the United States, fueling speculation that it could emerge as another source of trade friction between the allies in the new year.

Korea has framed the law as a good-faith effort to address the growing social harms caused by online disinformation, denying that it amounts to censorship or protectionism. The revision allows courts to impose punitive damages for the intentional spread of false or manipulated content and places new expectations on large online platforms, including content removal or account restrictions — a scenario U.S. officials warn could chill lawful speech and push U.S. platforms into pre-emptive moderation.

This interpretation has led Washington to escalate criticism, with a social media post by the U.S. under secretary of state and an official State Department statement warning that the law could infringe on the freedom of expression and hinder bilateral technology cooperation.

The gap between Seoul and Washington ultimately reflects differing priorities and levels of trust: Korea emphasizes the need to curb harmful misinformation, confident it can prevent abuse, while the United States prioritizes safeguarding freedom of expression, favoring market-based solutions or more narrowly tailored regulations.

What exactly is Washington saying?

Almost immediately after the amendment was passed, Washington took the unusual step of publicly criticizing it.

U.S. Under Secretary of State for Public Diplomacy Sarah Rogers warned in a post on X on Dec. 30 of last year that the Network Act amendment "reaches much further" than just targeting defamatory deepfakes and "endangers tech cooperation."

She added that while deepfakes are a valid concern, "It's better to give victims civil remedies than give regulators an invasive license for viewpoint-based censorship."

The very next day, the U.S. State Department reinforced Rogers's message with an official statement.

A spokesperson said the United States has "significant concerns" about the law, which it warns "negatively impacts the business of U.S.-based online platforms and undermines free expression."

The State Department further urged Korea to "not impose unnecessary barriers" in digital services, emphasizing that Washington "opposes censorship" while pledging to work with Seoul for a free and open digital environment.

Such strong language — including terms like "unnecessary barriers" and explicit mentions of censorship — is seldom seen in formal U.S. remarks about a partner nation's laws, highlighting the potential weight of the issue on diplomacy and trade.

What does the Korean law actually contain?

The law in question is an amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection aimed at clamping down on online falsehoods.

It was pushed by the ruling Democratic Party (DP) and passed the National Assembly on Dec. 24 of last year, then approved by the Cabinet on Dec. 30.

The core of the law, slated to take effect in July, penalizes the deliberate spread of false or manipulated information online with heavy civil damages. If a media outlet or online channel knowingly and intentionally disseminates false or fabricated content, courts can impose punitive damages up to five times the actual harm caused.

The law also places responsibilities on large internet platforms.

"Large information service providers," or major online platforms, are allowed — and effectively encouraged — to take measures against false content, including removing or limiting access to such posts, suspending or deleting the accounts of repeat offenders, demonetizing false content or even halting services for serious violations.

These platform obligations are mo...

This article is by Lee Jae-lim and read by an artificial voice.

[NEWS ANALYSIS]

Samsung Electronics and SK hynix, the world's two largest memory chipmakers, are increasing semiconductor production as demand surges across the board — from HBM to more commoditized chips like Double Data Rate (DDR) and NAND-based solid-state drives (SSDs).

Samsung's HBM production capacity will likely expand by 50 percent in 2026 compared to the year before, according to multiple domestic media reports, to prepare for massive orders from its top client, Nvidia.

The Suwon, Gyeonggi-based chipmaker projected a potential ramp-up in production and construction of manufacturing facilities in its latest conference call in October of last year.

"We are internally reviewing the possibility of expanding HBM production," said Kim Jae-june, vice president of memory business at Samsung Electronics.

To realize the scale-up, Samsung announced plans to invest 60 trillion won ($41.5 billion) in its upcoming P5 factory in Pyeongtaek, Gyeonggi, following a meeting with President Lee Jae Myung and leaders of major conglomerates in November. The investment is roughly double that of each of Samsung's previous Pyeongtaek facilities.

Samsung confirmed that P5 construction broke ground in November of last year, with operation commencement set for 2028. News also broke that the construction project for the last chip factory for the Pyeongtaek cluster, P6, is also moving forward. However, a company spokesperson said plans for P6 remain "unconfirmed."

A Pyeongtaek city official familiar with the matter said Samsung is receiving active administrative support to expedite the P5 construction process.

"Because the P-series facilities are located within a designated industrial complex, any revisions or additional requirements related to construction typically require lengthy approvals — often taking three to four months," the official said. "We are working to shorten that timeline as much as possible by facilitating coordination among relevant departments and consultations with Gyeonggi Province."

The Pyeongtaek campus, currently operates four fabs, P1 through P4. Samsung is projected to add around 60,000 wafers per month of DRAM capacity at P4 through the second quarter of 2026, according to KB Securities.

Reports said that Samsung received top marks in Nvidia's internal testing for sixth-generation HBM (HBM4), which will be used in Nvidia's next-generation Rubin processors, outperforming rivals SK hynix and Micron.

Samsung's HBM4 achieved a per-pin data transfer speed of 11 gigabits per second (Gbps), exceeding Nvidia's standard requirement of 10 Gbps for its Rubin platform.

"Internally, there is a palpable sense of excitement, and I believe there is broad consensus that the product itself is highly competitive," a Samsung Electronics source said.

Per-pin data transfer speed measures how fast each individual connection between a memory chip and a processor can transmit data. In HBM, even modest improvements at the per-pin level can translate into significant performance gains. Nvidia has been particularly focused on raising this metric as it competes with AMD's upcoming MI450 processor, which is also expected to be released in the latter half of this year.

Until the end of 2026, HBM wafer monthly output is expected to reach 250,000 units, which is a more than 47 percent jump compared to the current 170,000 level.

"Samsung's HBM bit shipments in 2026 are expected to triple year on year to 11.2 billion gigabits, with HBM4 accounting for roughly half of total shipments," said KB Securities analyst Kim Dong-won. Kim added that Samsung's HBM market share is forecast to surge to 35 percent next year, more than doubling from an estimated 16 percent in 2025.

For SK hynix, the M15X facility, which has received more than 20 trillion won in investment, will operate two clean rooms, which refers to tightly controlled manufacturing spaces for chip production. The first cleanroom beg...

This article is by Sarah Chea and read by an artificial voice.

From robotic housekeepers to eerily uncanny bipedal humanoids, this year's CES 2026 is poised to become a stage for a showdown in physical AI between Korean and Chinese firms.

As AI moves beyond the digital realm to be integrated into robots and devices capable of perceiving the physical world and making autonomous decisions, Korean companies are unveiling robotics-driven innovations across industries, from mobility and home appliances to energy and beyond.

The Consumer Technology Association has named robotics the central theme of this year's CES, which will run from Jan. 6 to 9 at the Las Vegas Convention Center in Nevada and bring together some 4,100 companies from more than 160 countries.

Of the 370 CES Innovation Awards handed out this year, Korean companies claimed 218, or 59 percent, more than the combined total awarded to firms from the United States and China.

The number of robotics award contenders rose 32 percent from a year earlier, outpacing growth in the broader AI category. Of the 15 companies recognized for excellence in robotics, eight were Korean.

Robots redefine the physical world

Hyundai Motor Group will lift the veil on Atlas, an all-electric humanoid robot developed by Boston Dynamics, at the show for the first time, with chief Euisun Chung set to take the stage for the introduction.

Equipped with fully rotational 360-degree joints, the company will establish humanoids as a core driver of productivity under the group's "Software-Defined Factory" strategy, which seeks to tightly integrate robots into manufacturing operations.

Designed to compete directly with Tesla's Optimus and Figure AI's Figure 02, Atlas has already been deployed on a pilot basis at Hyundai's manufacturing plant in the U.S. state of Georgia.

The company will also demonstrate its quadruped robot dog, Spot, and the MobED mobile platform at the show.

LG Electronics will debut its latest home robot, LG CLOiD, a five-fingered robot that exchanges a fist bump with a human, picks up laundry and organizes dishes, with gestures aimed at underscoring its dexterity in everyday domestic tasks.

CLOiD takes a humanoid form with two arms and five fingers, designed to perceive and learn from its surroundings autonomously to operate seamlessly within human-centric living environments and perform delicate household chores.

The robot can load laundry from a basket into the washing machine and fold freshly washed towels, all while navigating and clearing obstacles in its path. It can also prepare breakfast, taking milk from the refrigerator and warming croissants in the oven.

LG described the robot not as a simple mobile device but as a new "form factor intended to directly replace household chores."

Samsung Display plans to introduce an AI organic light-emitting diode (OLED) Bot with a 13.4-inch OLED screen as its face. The small robot can freely move around within a designated space and communicate with its owner by using AI. At the event, Samsung will showcase the robot's abilities in a university simulation.

"The rise of advanced physical AI, where robotics and AI converge, is expected to significantly broaden the scope of AI adoption, from industrial settings to everyday consumer life," said Lee Hyo-jung, a senior director at Samjong KPMG Economic Research Institute, describing physical AI as the defining keyword of CES 2026.

"Going beyond simple automation, a wave of AI-powered devices capable of understanding, rationalizing and manipulating the physical environment will be unveiled at CES 2026, with tangible use cases across industries such as manufacturing, construction, and services coming into clearer focus."

Doosan Robotics will unveil Scan & Go, a robot that can analyze and process the surfaces of large, complex structures such as aircraft and buildings, and is capable of tasks ranging from surface inspection to polishing and grinding.

HL Group will present a broad overview of...

This article is by Jang Seo-yun and read by an artificial voice.

Korea's benchmark Kospi crossed 4,000 for the first time in 2025, lifted by semiconductor stocks and other large-cap technology shares. Investors now want to know if it can break through 5,000 this year, amid AI bubble concerns and the risk of foreign outflows driven by currency swings.

That question has split market strategists. Research chiefs at five major securities firms - Mirae Asset Securities, Hana Securities, Korea Investment & Securities, KB Securities and NH Investment & Securities - expect the index to range anywhere from as low as 3,750 to as high as 5,500 this year. Excluding Mirae Asset, which did not present a specific target, the group is divided on whether the long-discussed 5,000 level is within reach.

Expectations for a bullish Kospi has mounted entering 2026, as the main bourse broke past the 4,300 level on Jan. 2, the first trading day of the year. It closed at 4,309.63 on Friday, up 2.27 percent from the previous trading on Dec. 30 of last year.

Bulls see policy support and chip earnings

NH Investment & Securities offered the most optimistic forecast, projecting a range of 4,000 to 5,500. Cho Soo-hong, head of research, said the index could reach the upper end of that range as early as the third quarter.

"Growth led by semiconductors is continuing, and a market re-rating driven by policies aimed at normalizing the capital market should also persist," Cho said.

He pointed to sharply rising earnings expectations for Samsung Electronics and SK hynix, the two largest companies on the Kospi by market capitalization.

"Combined operating profit forecasts for the two companies have been revised up from about 160 trillion won [$110.8 billion] to more than 200 trillion won this year," he said.

KB Securities also said the Kospi could test the 5,000 level. Kim Dong-won, its head of research, framed the outlook around the durability of AI demand.

"The growth cycle of the AI industry that underpins demand for Korean semiconductors could last as long as 10 years," Kim said. "There will be fluctuations, but the base level of AI growth itself is rising."

He added that earnings from the so-called Magnificent Seven - Microsoft, Meta, Amazon, Alphabet, Apple, Nvidia and Tesla - continue to outperform the broader S&P 500, reinforcing confidence in technology-led markets.

Kim Hak-kyun, head of research at ShinYoung Securities, struck a similar tone in a report published on Tuesday, written in the form of a self-critique titled "My mistakes in 2025" (translated).

"I could not even imagine the Kospi reaching 4,000 amid the strange combination of a weak won and rising stock prices," Kim wrote. "Now, reaching 5,000 or even 6,000 no longer seems impossible."

Kim argued that if the United States turns to exchange rates rather than tariffs to address external imbalances, the dollar's strength could give way to a more structural decline.

"If the won strengthens [as the dollar weakens], Korean stocks could gain appeal as non-dollar assets," he said.

Caution focuses on the second half

More conservative forecasts came from Hana Securities, which projected a range of 3,750 to 4,650, and Korea Investment & Securities, which put its upper bound at 4,600. Both firms expect gains to be front-loaded, with conditions becoming more challenging in the second half of the year.

They cited the risk of prolonged weakness in the won and tighter monetary conditions, which could weigh on foreign investor demand.

Yoo Jong-woo, head of research at Korea Investment & Securities, said the exchange rate would be the decisive factor if the index fails to reach 5,000.

"If the Kospi does not reach 5,000, the main reason will be the currency," Yoo said. "In the second half, a weaker won would limit monetary easing and worsen the supply-and-demand environment."

Hwang Seung-taek, head of research at Hana Securities, warned that inflation pressures could erode expectations for interest rate cut...