Samsung and SK hynix Rally Turns Chip ETFs Into Market Standouts (Image courtesy of Yonhap)
SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s surging semiconductor stocks, which have powered the domestic market rally since the start of the year, are now delivering outsized gains in the exchange-traded fund market as well.
According to Koscom’s ETF Check data released Thursday, semiconductor-focused ETFs heavily weighted toward Samsung Electronics and SK hynix dominated the top of the performance charts over the past month.
The leveraged TIGER Semiconductor TOP10 ETF posted a 78.2 percent return, while the KODEX Semiconductor Leverage ETF rose 73.9 percent. TIGER 200 IT Leverage, which allocates roughly 25 percent of its holdings to Samsung Electronics and SK hynix combined, gained 63.3 percent.
The surge comes as both chipmakers have climbed more than 30 percent this year, buoyed by a sharp increase in global semiconductor demand tied to the artificial intelligence boom. Their gains have been a primary driver of the broader Kospi index.
Retail investors have piled into the rally. Since the beginning of the year, individuals have net purchased 770.2 billion won ($—) worth of TIGER Semiconductor TOP10 and 256.7 billion won of its leveraged counterpart, according to data from Yonhap Infomax.
More than half of those inflows occurred in just the past week. During that period, individuals also bought significant amounts of KODEX Semiconductor Leverage and KODEX Semiconductor ETFs.
Global investment banks have responded to the rally by sharply raising their earnings forecasts and price targets. Morgan Stanley said it had lifted its 2026 and 2027 earnings-per-share estimates for Samsung Electronics by 30 percent and 19 percent, respectively, and for SK hynix by 24 percent and 27 percent.
The bank projected Samsung’s operating profit would reach 245.7 trillion won this year and 317.4 trillion won next year, compared with 43.5 trillion won in 2025. For SK hynix, it forecast operating profit of 179.4 trillion won this year and 225.4 trillion won next year, up from about 47 trillion won last year.
Morgan Stanley raised its target price for Samsung Electronics by 24 percent to 210,000 won and for SK hynix by 31 percent to 1.1 million won, suggesting even greater upside under a bullish scenario.
JPMorgan similarly said 2026 earnings could exceed current consensus estimates by as much as 40 percent and projected an additional 45 to 50 percent upside from current share prices.
With semiconductor shares leading both the stock and ETF markets, investors are increasingly betting that the AI-driven chip cycle still has further to run.
Ashley Song (ashley@koreabizwire.com)
