Goldman Sachs strategists have lowered their 12-month target for South Korea's KOSPI index by 25%, cutting it from 12,000 to 9,000. The revision reflects intensifying concerns over AI-related trades and a need for more cautious valuation assumptions after the benchmark index fell more than 35% below its June high. Despite the downward revision, the analyst team led by Timothy Moe noted that the selloff has left the South Korean stock market deeply undervalued. They maintained that the index still offers more than 60% upside potential even with the reduced target.