South Korean stocks on Wednesday surpassed the three-thousand-point threshold for the first time ever amid forecasts by major securities firms in the country that the Korea Composite Stock Price Index(KOSPI) will witness a rise over three-thousand this year. 

Leading South Korean brokerages recently marked up their upper-end KOSPI targets to over three-thousand for 2021. 

Samsung Securities forecast on Monday that KOSPI would stand between two-thousand-700 and three-thousand-300 this year. 

The Korea Investment and Securities Company projected the benchmark index to range between two-thousand-620 and three-thousand-310, citing government measures to resuscitate the economy and the distribution of COVID-19 vaccines. 

However, some experts have expressed concerns over a short-term overheating of the market. 

According to Jeong Yong-taek, a researcher at IBK Securities Company, the Buffett indicator, which is the ratio of corporate equities to gross domestic product, has surpassed the standard deviation, adding that such a state does not emerge often. He cited that there have been only two occasions in which that happened, including the tech bubble in the 1990s and the 2008 global financial crisis.