**Recent sharp corrections in the KOSPI, which closed at 6,035.35 on October 13 after a 5.46% single-day drop amid heavy foreign selling in semiconductors, underpin the 71.5% market-implied probability that the index will not surpass its June 2026 all-time high of 9,385.59 before 2028.** Profit-taking in AI-exposed names like Samsung Electronics and SK hynix, alongside doubts over sustained AI spending and rising Chinese competition, have driven the index down more than 35% from September peaks near 7,000–7,100. While IMF and global bank forecasts have lifted South Korea’s 2026 GDP growth to around 3.3–3.5% on chip-export strength, analysts note base effects will moderate 2027 earnings growth. Traders price in elevated volatility, potential rate pressures, and the sizable gap to new highs as key swing factors through year-end 2027.