South Korea ETF (EWY) performance in October 2026 will be driven primarily by the semiconductor sector, which comprises over 50% of the fund via holdings like SK Hynix (around 24-25%) and Samsung Electronics (around 22%). AI-related high-bandwidth memory demand and hyperscaler capex continue to support earnings growth, with the KOSPI recently hovering near 7,000 amid rebounds from June volatility. Recent data show YTD returns near 90-98% and 1-year gains exceeding 130%, though tempered by Bank of Korea rate hikes, a stronger won, elevated oil prices, and foreign outflows. Q3 earnings releases and global tech spending updates represent key near-term catalysts for trader positioning.