One quadrillion is the number used to describe the wealth effect of South Korea's stock-market miracle

With the title's theme, the one-quadrillion wealth figure underscores an extraordinary wealth effect from South Korea's stock-market surge. The KOSPI's 2026 rally has produced capital gains exceeding 1 quadrillion won, a figure JPMorgan's Korean equity team, led by Stanley Yang, identifies as a potential driver of household wealth this year. The bank estimates these gains could translate into a wealth effect of about 43 trillion won ($28 billion) by lifting consumers' perceived net worth and confidence. That uplift may spur purchases of big-ticket items, particularly in luxury discretionary categories, while reshaping demand away from staples where wealth sensitivity is lower.