Seoul, Oct 2 (NationPress) South Korean stocks experienced a remarkable surge on Thursday, breaking through the 3,500 threshold for the first time ever. This positive movement in the market was fueled by investor excitement surrounding newly formed business collaborations between OpenAI and leading chip manufacturers Samsung Electronics and SK hynix. In addition, the local currency showed signs of strength against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose by 93.38 points, equivalent to a 2.7 percent increase, closing at 3,549.21. This achievement surpassed the previous record of 3,486.19, which was set on Sept. 23, as reported by Yonhap news agency.

Trading activity was robust, with a total volume of 394.92 million shares valued at 18.57 trillion won (approximately US$13.25 billion). Notably, shares that gained outnumbered those that lost by 589 to 291.

Foreign investors were particularly active, acquiring a net total of 3.14 trillion won in shares, while retail and institutional investors sold off 3.07 trillion won and 69 billion won worth of shares, respectively.

The investor enthusiasm was largely driven by the announcement that chip leaders Samsung Electronics and SK hynix had signed letters of intent to provide memory chips for OpenAI's data centers.

According to Han Ji-young, an analyst at Kiwoom Securities, "Despite various macroeconomic and political challenges, including the ongoing U.S. government shutdown and stalled tariff negotiations, investors are focusing on sectors like artificial intelligence and semiconductors."

She further noted, "While investors typically increase cash holdings ahead of extended holidays, this time, the prevailing market trend is expected to remain stable."

The South Korean stock and foreign exchange markets will observe a closure from Friday to next Thursday in observance of the extended Chuseok holiday.

In notable stock performances, Samsung Electronics jumped 3.49 percent to 89,000 won, while SK hynix soared 9.86 percent to 395,500 won. LG Energy Solution, a top battery maker, surged 14.82 percent to 399,000 won, and Doosan Enerbility, a nuclear power plant manufacturer, saw an increase of 0.31 percent to 64,800 won.

Major bio-entities like Samsung Biologics rose 0.4 percent to 1,009,000 won, while Celltrion gained 0.17 percent to 175,400 won.

The automotive sector also made gains, with Hyundai Motor rising 2.09 percent to 220,000 won, and its affiliate Kia soaring 3.58 percent to 104,200 won.

Shipbuilders had mixed results, with industry leader HD Hyundai Heavy remaining stable at 528,000 won, while Hanwha Ocean increased by 1 percent to 111,500 won.

However, Hanwha Aerospace, a defense manufacturing giant, dipped by 0.18 percent to 1,097,000 won, and leading internet firm Naver fell by 0.59 percent to 253,000 won.