“Our Conviction Level Is Really Strong”: Goldman Sachs Sees 90% Upside on Korean Stocks. Here Are the ETFs to Buy if They’re Right.

Quick ReadEWY and FLKR are both up ~65% year to date despite an 11% monthly pullback driven by Korean leveraged ETF market chaos. Moe targets Kospi 12,000 based on 5x forward earnings, a level two standard deviations below historical norms, and projected 32% earnings growth this year. Semiconductors make up over 50% of the Kospi, making SK Hynix and Samsung the real engines behind Goldman's AI-driven earnings thesis. Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. Goldman Sachs Chief Asia-Pacific Equity Strategist Tim Moe raised the firm's Kospi target to 12,000, an implied roughly 90% upside even as the Korean market absorbs a violent unwind of leveraged retail products.