The benchmark KOSPI surged more than 4% to around 7,850 on Monday, hitting a fresh record high, driven by continued strength in semiconductor and AI-related shares after another rally on Wall Street. Samsung Electronics jumped over 7% while SK hynix soared nearly 12%, tracking strong gains in major US chipmakers. Investor sentiment was further supported by data showing South Korea’s exports rose 43.7% year-on-year in the first 10 days of May, with semiconductor shipments surging almost 150% to a record high amid booming AI server demand. Other notable gainers included SK Square (5.1%), HD Hyundai Heavy Industries (3.0%), Hanwha Aerospace (2.7%), and Kia Corporation (5.8%). Meanwhile, markets also monitored escalating geopolitical tensions in the Middle East after Seoul confirmed that unidentified airborne objects struck a South Korean-operated vessel in the Strait of Hormuz, contributing to a sharp rise in global oil prices and renewed concerns over energy supply disruptions.