Domestic stock market, the number of companies with a market capitalization of 1 trillion won has surpassed 400... spreading throughout the entire market

In the Korean stock market, the number of listed companies with a market capitalization of more than 1 trillion won first broke through 400, confirming that the upward trend in share prices is spreading to individual stocks across the market.

According to data from the Korea Exchange Information Data System, released on the 3rd, as of the 29th of last month, the total number of listed companies with a market capitalization exceeding 1 trillion won was 405, including preferred stocks. By market, the KOSPI market led with 267 companies, followed by the KOSDAQ market with 137, and the KONEX market with 1. The so-called “10 trillion won club” (companies with a market capitalization exceeding 10 trillion won) also reached 79 companies. This scale not only returned to the level seen on the eve of the United States’ attack on Iran (February 27), when there were 377 companies in the 1 trillion won club and 78 in the 10 trillion won club, but even surpassed that level.

This record means that it is not only the index that is rising, but the market’s overall size is expanding. Although geopolitical instability may dampen investment sentiment, expectations for improved performance among major companies offset that impact. In fact, the total market capitalization of the Korean stock market first exceeded 60,000 trillion won on the 27th of last month, a historical first. The rate of growth of the 1 trillion won club has also clearly accelerated recently. After first surpassing 200 companies on May 20, 2015 (reaching 201), it surpassed 300 companies on July 16, 2025 (reaching 302), and then, after only about 9 months, it broke through 400 companies. This suggests that a rally centered on large-cap stocks has spread to mid-cap stocks and some growth stocks.

Looking at the stocks with the highest market capitalization, Samsung Electronics ranks first with approximately 1,289 trillion won, followed by SK Hynix with approximately 917 trillion won. Next are Samsung Electronics preferred stock at approximately 127 trillion won, SK Square at approximately 111 trillion won, Hyundai Motor at approximately 109 trillion won, LG Energy Solution at approximately 108 trillion won, Doosan Enerbility at approximately 81 trillion won, Hanwha Aerospace at approximately 73 trillion won, HD Hyundai Heavy Industries at approximately 72 trillion won, and Samsung Biologics at approximately 68 trillion won. At the lower end of the 1 trillion won club, preferred shares of Korea Finance Group are included at about 1.0082 trillion won, while Eugene Robotics, Wonik QnC, Seoyah Steel Holding, Chabi, and others are slightly below the 1 trillion won level. However, on the last trading day of last month (the 30th), after a sharp short-term surge the market entered a consolidation phase, and the number of listed companies in the 1 trillion won club fell slightly to 398. By contrast, the 10 trillion won club increased to 80 companies, rising by 1.

In the view of the securities industry, in the short term, earnings—not geopolitics—will become the key variable for the market. Han Ji-young, a researcher at Kiwoom (?), analyzed that compared with the April meeting of the U.S. Federal Open Market Committee or U.S.-Iran negotiations, the earnings releases of U.S. large-cap tech stocks known as the “Magnificent Seven” have become a more important factor. She explained that, aside from Meta, major tech companies such as Alphabet, Amazon, and Microsoft showed strong performance in after-hours trading following their earnings releases, which may increase expectations for upward revisions to domestic semiconductor stock profit forecasts. Lee Kyung-min, a researcher at Daishin Securities, also said that KOSPI is continuing an upward trend driven by improved corporate performance, and that before earnings per share (EPS) expectations reach a turning point, the upward trend is likely to be maintained. However, he also noted that as the first-quarter earnings season progresses, as differences between market expectations and actual results are confirmed, adjustments that cool down short-term overheating and selling pressure may emerge as the discrepancy is absorbed. Such a trend may continue in the future, centered on industries where performance improvements are confirmed, but in the short term, investors should also be mindful of the possibility that both index and individual-stock volatility could rise at the same time due to a pullback in expectation-driven sentiment.