Key facts
- South Korea's Kospi index fell 3.2%.
- Intensifying selling pressure contributed to the market downturn.
- South Korea had previously overtaken India as the 6th largest equity market.
- The previous surge was attributed to AI chip stocks.
South Korea's equity market recently rose to become the world's sixth-largest, surpassing India, primarily due to rallies in AI chip stocks. This ascent highlighted the global impact of the AI boom on the semiconductor industry. However, the market has now experienced a significant downturn.