South Korea’s stock exchange halted trading for 20 minutes as the KOSPI index fell more than 8% in a single day. Since its June peak, the index has lost over 40%, erasing more than $2 trillion in market capitalization, a sum that exceeds South Korea’s entire annual GDP of about $1.9 trillion in 2025. Samsung Electronics and SK Hynix, two AI chip companies, account for roughly half of the KOSPI’s market cap and have caused 70% of the drawdown. The KOSPI closed at 5,554, down 7.6%, extending consecutive daily losses to seven. South Korean media has dubbed the crash “Black Thursday”.
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