KOSPI Down 40% From Peak as Korea, the 'Purest AI Bet,' Gets Hit Hardest by Memory Price Fears
SumitGup · x · 2026-10-15
South Korea's KOSPI fell another 7%, now down 40% from its June 19 record. Two chip giants make up over half the index, retail piled into leveraged funds, and the index doubled in six months on memory prices that had already quadrupled. Hot US inflation and CoreWeave debt triggered the latest leg down; Samsung posted a record quarter yet keeps sinking as investors price next year's memory prices, with China's CXMT adding capacity. Analysts expect Seoul to deploy stabilization measures but doubt they'll change the trend. Korean investors have put $69B into US stocks.
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