Korean equities have rallied strongly since 2025, driven by AI and advanced technology demand that has lifted earnings expectations, particularly for semiconductor leaders. Beyond tech, improving governance, shareholder-friendly reforms, and broader opportunities support the investment case.
The year 2025 was marked by a high degree of economic policy uncertainty, as the US import tariffs placed a noticeable burden on export‑oriented economies such as Switzerland. With the start of 2026, geopolitical risks have come to the forefront. The conflict in the Middle East has driven commodity markets into extreme volatility and has heightened concerns about stagflation. Europe is feeling these effects very acutely, which is dampening the expected economic recovery.