Foreign investors are continuously snapping up South Korean stocks.

According to the Korea Exchange on Tuesday, a net buying spree by foreigners has continued for nine days since December 27th.

Accordingly, the market capitalization of local stocks held by foreigners on  South Korea's main stock trading board KOSPI grew to 466-trillion-747-point-seven billion won, or 388-point-six billion U.S. dollars, as of Monday, the second highest level. 

Market experts credited the foreigners’ buying rally to the eased concern about emerging markets as well as the reevaluation of undervalued South Korean stocks.

The return of investment from bonds to stocks following the interest rate hike in the U.S. last month is also attributed to the phenomenon.

Lee Young-gon, a researcher at Hana Financial Investment, said South Korea's main index has not risen as much as many advanced stock markets and thus can appeal to global investors seeking high margins.