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KRW up, index up
the korea trade thesis that i’ve had:
New January 2026 regulatory changes allow foreign retail brokers to offer direct market access to krx stocks, including the low cap index KOSDAQ. Semis have pumped, the supply chain low caps that serve them less so due to limited access.
Most of Korean retail still heavily invested in US stocks, the big rotation hasn’t happened yet.
Big foreign instis piling in right now, krw going up mostly due to this imo. Once brokers set up retai access H1 of 2026, will continue to see it rip upwards.
Rare for the KRW and KRX will pump together. usually the inverse.
how to get exposure? difficult. you have ADRs for majors individuals, Kosdaq 150 on IBKR, KOSPI 200.
Unless you have access via JPM, GS or other desks set up in KR via brokers, above three is the only option besides some funds that are just deploying now.
The administration is set on pumping KOSPI - even letting 2x leveraged etfs to be approved now. signal vs noise.
double whammy here is you’ll print in krw and krx, i expect krw to hit 1300s vs usd soon.


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