South Korea’s EWY ETF has traded in a volatile range near $170–190 in August 2026, reflecting an AI-driven semiconductor supercycle that lifted exports sharply and prompted multiple upward revisions to 2026 GDP growth forecasts, now clustered between 3.0% and 3.5%. Heavy weighting toward memory-chip producers such as Samsung Electronics and SK Hynix, combined with announced share buybacks and strong facility investment, has supported equity inflows and KOSPI rebounds even as U.S. Treasury yields and global risk sentiment introduce short-term swings. With the month nearing resolution, traders are monitoring final export data, Bank of Korea policy signals, and any late-quarter earnings updates that could shift the price band for the period.