TradingKey – Goldman Sachs (GS) remains bullish on the South Korean stock market.

Although South Korea’s KOSPI index has pulled back about 27% from its June record high and market concerns over the sustainability of AI capital expenditures, the high volatility of South Korean stocks, and the semiconductor cycle continue to escalate, Timothy Moe, Chief Asia Pacific Regional Equity Strategist at Goldman Sachs, has still not lowered his previously stated 12,000-point target.

Based on current market levels, this target implies nearly 80% upside potential for the KOSPI going forward. Months ago, when Moe first made the 12,000-point forecast, this figure was one of the most aggressive calls in the market; today, even after South Korean equities…