South Korea's iShares MSCI South Korea ETF (EWY) has surged more than 90% year-to-date through late September 2026, trading near $185–187 amid record global demand for AI semiconductors from major exporters like Samsung and SK Hynix. The Bank of Korea and government raised 2026 GDP growth forecasts to 3.0–3.2%, citing the semiconductor cycle and export strength, while KOSPI posted leading gains before recent volatility. Key influences include U.S.-China trade dynamics, Federal Reserve policy effects on risk assets, and domestic inflation near 2.6%. Traders are monitoring October export data, corporate earnings, and any shifts in global tech capital spending for further price resolution.