Korean Stocks Drop Nearly 10%, Largest Single-Day Decline Since March 4

On June 23, investors intensified their sell-off of leading chip stocks, raising concerns that the recent rally had become overstretched. The Korean stock market experienced a significant decline today, with the KOSPI closing down 9.99% at 8204.06 points, marking the largest single-day drop since March 4 of this year. Samsung Electronics, SK Hynix, and Hyundai Motor all fell by more than 12%.