South Korea’s KOSPI index plunged nearly 10% on June 23 as a tech selloff wiped out recent AI-driven gains. Samsung Electronics and SK Hynix led the slide, pulling down the broader market and weighing on U.S. chip rival Micron.
The slide came just days following that index hit one record, with the drop marking the benchmark’s biggest one-day fall in years. A sharp drop in chipmakers and AI-linked stocks across Asia tripped the Seoul market’s circuit breaker when losses exceeded 8%.