South Korea's Stock Market Drops Over 40% From June High as Top Two Companies Pull Index Down

On July 28–29, 2026, South Korea's main stock market gauge, the Kospi, fell over 40% from its June peak. SK Hynix and Samsung — together more than half the index's value — slid 13–16%+. SK Hynix reported record quarterly profit but fell short of expectations and gave no positive outlook. Because these two companies dominate the index, their stumble became a market-wide crash.