Goldman Sachs Cuts KOSPI Target 25% to 9,000 but Still Sees 60% Upside

Goldman Sachs cut its 12-month KOSPI target 25% to 9,000 from 12,000 on October 25, 2026, still implying more than 60% upside, per BusinessKorea. The index had already fallen more than 35% from its June peak. Bloomberg tied the cut to the unravelling AI trade, which bears directly on the memory-chip earnings thesis behind Goldman's May call.