2025–2026 KOSPI 9,000 and the Iran war

A year and a half that began with a tariff shock and ended with chip stocks pushing the KOSPI past 9,000. Gold and silver set records and broke in a day, and the Iran war shook Korean stocks and the won together.

From the tariff shock to KOSPI 4,000

Trump's reciprocal tariffs in April 2025 pushed the KOSPI down to 2,294 on April 9. The 90-day pause and the US-China deal in Geneva in May brought tariffs down and the market turned. After Korea's new government took office, the KOSPI closed above 3,000 on June 20 for the first time in three and a half years. In the second half, memory demand from AI data centers carried chip stocks. On October 27 the KOSPI closed above 4,000 for the first time, and Samsung Electronics passed ₩100,000 the same day. The KOSPI rose 76% in 2025. The Fed cut rates at three straight meetings from September, ending the year at 3.50–3.75%.

Peaks in Bitcoin, gold and silver

Bitcoin set a record near $126,000 on October 6. Four days later Trump threatened an extra 100% tariff on China, and a record $19 billion of leveraged crypto positions was liquidated in a day. By February 5, 2026 Bitcoin was in the $60,000s, having given back everything it gained after Trump's election. Gold passed $4,000 in October and $5,000 on January 26, 2026, and silver passed $100. On January 30 Trump named Kevin Warsh as his pick for Fed chair and the dollar jumped. Silver had its worst day on record, and gold fell more than 10%.

The Iran war and KOSPI 9,000

On February 28 the US and Israel struck Iran, and Iran declared the Strait of Hormuz closed. The KOSPI fell 7.2% on March 3 and 12.06% on March 4, its worst day on record. The won passed 1,500 per dollar on March 16 for the first time since 2009. WTI crude passed $100 in late March and reached about $114 on April 7. A two-week ceasefire was agreed that night, and oil fell 16% the next day.

Then chip stocks took over again. The KOSPI passed 7,000 on May 6, the day Samsung Electronics' market value passed $1 trillion, and 9,000 on June 18. On June 22 SK hynix passed Samsung in market value, and the next day the KOSPI fell 10%. The won ended June at 1,549 per dollar, its weakest level since 2009.

Seoul apartments

Seoul apartment prices kept rising after the June 27 measures capped capital-area mortgages at ₩600 million and the October 15 measures made all of Seoul a regulated zone. By KB's index, Seoul rose 6.7% in the first half of 2026. Seongdong and Yeongdeungpo rose almost 9%, while Gangnam rose 1%. On May 10 the extra capital gains tax on owners of several homes returned.