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South Korea's VKOSPI Hits Record 96.94 on June 29, Driven by Semiconductor Concentration

GateNews
Indices
TSM3.77%
According to Asia Economy, South Korea's KOSPI 200 Volatility Index (VKOSPI) surged to a record 96.94 on June 29, exceeding levels seen during the 2008 financial crisis, while the U.S. Fear and Greed Index remained stable. The divergence stems from extreme sector concentration: Samsung Electronics and SK Hynix accounted for 78.3% of the KOSPI index's gains in the first half of 2026, far surpassing the contribution rates of major semiconductor firms in the U.S. (M7: 13.4%), Taiwan (TSMC: 38.9%), and Japan (Kioxia and SoftBank: 36.8%). The U.S. S&P 500's semiconductor holdings represent only 18% of the index, allowing other sectors to offset volatility, whereas South Korean semiconductors comprise over 50% of the KOSPI's market capitalization. This concentration amplifies price swings in the Korean market to more than double the daily volatility of U.S., Taiwan, and Japanese exchanges.
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