KOSPI Plummets 8.29% Following Global Semiconductor Sell-Off

The Korea Composite Stock Price Index (KOSPI) plummeted 8.29% on June 8, 2026, closing at 7,484.41 in its worst single-day performance of the year. The crash followed a brief rally between May 26 and June 6, during which Samsung Electronics and SK hynix had gained over 13% each, drawing retail investors back from overseas markets. This reversal was triggered by a rout in U.S. semiconductor stocks on Wall Street and concerns over United States Federal Reserve interest rate hikes.

Samsung Electronics and SK hynix led the decline, falling 10.18% and 7.68% respectively. The volatility forced the Korea Exchange to activate a Level 1 circuit breaker and a sell-side sidecar to halt program trading. The junior KOSDAQ index also fell 9.08% to its lowest close of the year, while other heavyweights like Hyundai Motor Company saw drops of up to 9.86%.

The market turmoil extended to the currency market, where the Korean won hit a 16-year low, trading as low as 1,555.2 per dollar. In response, the Ministry of Economy and Finance and the Bank of Korea issued a joint statement warning against speculative transactions in the non-deliverable forward market and pledging to intervene against excessive currency volatility.