Tech companies now account for 63.3 percent of the Korea Composite Stock Price Index, a massive increase from two decades ago.
The proportion of tech companies has risen from just 25.4 percent in 2000 to 39.5 percent in 2005 and 43.4 percent in 2015. On the service side, shares of Naver and Kakao have gone through the roof, and on the hardware side Samsung Electronics and SK Hynix.
The proportion is much higher than in China, Germany, Japan and the U.S.
In a comparison of the top 30 companies in these countries released by the Korea Exchange on Tuesday, tech stocks accounted for 35.3 percent of the U.S. stock market, distantly trailed by Germany’s 12.9 percent, Japan’s 10.3 percent and China’s 6.8 percent.
The share of tech companies has been rising gradually there since the dotcom bubble burst in the late 1990s, but not nearly as drastically as in Korea, where IT and high-tech manufacturing, especially semiconductors, have become major industries, the Korea Exchange said.
- Copyright © Chosunilbo & Chosun.com