28.07.202601:35:46UTC+00South Korean Shares Plunge on Tech Selloff

The benchmark KOSPI index slumped more than 8% to around 6,210 on Tuesday, hitting its lowest level in over three months, as a deepening global selloff in semiconductor stocks hammered heavyweight chipmakers and intensified risk aversion across the market.

SK Hynix dropped more than 10% after its US-listed shares fell below their IPO price, while Samsung Electronics slid over 9%, mirroring another sharp decline in US chip stocks amid mounting worries that hyperscalers may scale back spending on AI infrastructure.

The rout extended to other major names, including SK Square (-11.8%), Hyundai Motor (-6.8%), LG Energy Solution (-4.7%), HD Hyundai Heavy Industries (-6.3%), and Kia Corporation (-5.0%).

At the same time, renewed fears over intensifying competition from China’s memory chip industry added extra downward pressure on Korean semiconductor shares. Investor sentiment was further constrained by caution ahead of upcoming earnings reports from major US technology firms and the Federal Reserve’s policy decision later this week.