Key facts
- South Korean stocks posted their steepest monthly decline since the 2008 global financial crisis in July.
- Seven out of 10 stocks on South Korea's main and secondary markets fell in July.
- The KOSPI index dropped 22.2% in July.
- The KOSDAQ index fell 21.4% in July.
South Korean stock markets recorded their steepest monthly declines since the 2008 global financial crisis in July. The benchmark KOSPI index plummeted by 22.2% over the month, reflecting widespread investor concerns and market volatility. Concurrently, the secondary KOSDAQ market also experienced a significant downturn, falling by 21.4%. The broad nature of this sell-off is underscored by the fact that seven out of every ten stocks listed on both the main and secondary South Korean exchanges experienced price decreases during July. This performance marks a severe contraction for the nation's equity markets, mirroring the severe economic conditions seen during the 2008 financial crisis.