How the AI chip boom helped South Korea overtake India among the world's largest stock markets

Key points

• South Korea's stock market is experiencing a historic rally and has recently surpassed India to become the sixth-largest stock market in the world.
• The rise of South Korea's Kospi index to a record high has largely been attributed to the rising demand for AI chips and two local chipmakers that have gone on to become some of the world's most valuable companies.
• How did AI chipmakers lead to a ‘historic surge’ in South Korea's market?
• Chipmaker SK Hynix joined the trillion-dollar valuation club last week, alongside Samsung Electronics and Taiwan Semiconductor Manufacturing Company (TSMC) as the only Asian companies to reach the landmark.
• Also Read | Why an AI bubble burst could serve India’s interests well According to a report by The Guardian, SK Hynix's share price has surged byaround 1,000% over the past year, while Samsung's stock has climbed roughly 500%.