₩6 Trillion More Released: The True Meaning Behind KOSPI's Bull Run and 15.3% Dividend Surge
Against the backdrop of the 2026 KOSPI bull run, dividends from major listed companies surged by more than ₩6 trillion — a 15.3% year-over-year increase. As large-cap stocks like SK Hynix and KB Financial lead massive dividend expansions, shareholder return culture is taking hold in earnest in the 'KOSPI 6,000 era.'
Why you need to read this now: With KOSPI on the verge of 6,000, the number called 'dividend' is proving a fundamental transformation in Korea's capital markets.
TL;DR
- Total dividends from major listed companies increased 15.3% year-over-year in 2026, adding more than ₩6 trillion in value
- Large-cap stocks like SK Hynix (+37.8%) and KB Financial (+31.7%) are leading the dividend expansion
- President Lee Jae-myung's 'Korea Discount' elimination policy and Commercial Act amendments (mandatory treasury share cancellation) have fostered a shareholder return culture
- As foreign investor inflows into KOSPI continue, a virtuous cycle of dividend expansion → stock price rise → further dividend expansion is forming
The Facts: How Much Has It Grown?
According to data reported by Yonhap News on February 24, 2026, dividends for the 2025 fiscal year among major domestic listed companies were tallied at 15.3% higher than the previous year. In monetary terms, more than ₩6 trillion was additionally returned to shareholders.
Key dividend figures by company are as follows:
| Company | Dividend Amount | Year-over-Year Change | Ranking Movement |
|---|---|---|---|
| SK Hynix | ₩2.0951 trillion | +37.8% | → 4th overall |
| KB Financial | ₩1.5812 trillion | +31.7% |
Looking at KOSPI as a whole, with the 'KOSPI 6,000 era' on the horizon, companies' willingness to return value to shareholders is manifesting in real numbers.
Drivers of Growth: Why Now?
1. Stock Price Surge → Profit Surge → Expanded Dividend Capacity
Against the backdrop of a semiconductor industry recovery, SK Hynix's operating profit surged significantly, while banking stocks posted record-breaking net profits thanks to the high-interest-rate environment. When profits grow, so does the capacity to pay dividends.
2. Commercial Act Amendment Pressure and the 'Korea Discount' Elimination Policy
The mandatory treasury share cancellation provision, which passed the Legal Affairs Committee in early 2026, along with President Lee Jae-myung's shareholder-friendly policies, gave companies strong incentives to expand dividends. Foreign investors also continued to pressure companies with warnings that funds would be withdrawn if dividends were not increased.
3. Foreign Capital Inflows and Supply-Demand Virtuous Cycle
The wave of net foreign buying that began in late 2025 pushed KOSPI higher, and the rising stock prices in turn boosted corporate confidence — creating a structure where that confidence translates into further dividend expansion.
Context and Background: Korea's Historically Low Dividend Payout
Korea's stock market has long been criticized for its low dividend payout ratio. While the global average payout ratio sits at 40–50%, KOSPI's average has hovered around 20–25%. 'Owner-centric governance structures' and a 'preference for retaining internal profits' have been cited as the primary causes.
This structural problem fed into foreign investors' undervaluation of the Korean market (the 'Korea Discount'), and successive governments tried to solve it but repeatedly failed. The current dividend surge is a signal that the tide is genuinely turning.
Outlook: Can It Continue?
Positive Scenario
- If semiconductor and financial sector conditions hold, the sheer scale of profits means dividend capacity is more than sufficient
- Following the Commercial Act amendments, minority shareholder activism is intensifying, making it highly likely that companies will voluntarily continue expanding dividends
Risk Scenario
- If the Trump administration further escalates tariff policies, the profits of semiconductor and automakers with high export dependency could plummet — potentially breaking the dividend expansion trend
- A sharp exchange rate swing (deepening won weakness) could trigger foreign capital outflows, severing the dividend growth virtuous cycle
Checklist: Key Points for Investors
Reference Links
- Major listed companies' dividends up 15.3% in a year amid KOSPI 'bull run' — Yonhap News (2026.02.24)
- Why Korea rose 11% when the US fell 3%: KOSPI decoupling analysis — Chosun Ilbo (2026.02.23)
Image source: Korea Exchange (KRX) Building — Wikimedia Commons (Public Domain)