South Korea’s KOSPI index opened today at ₩6,089, marking a 35% plunge from its record high of ₩9,385 on June 19. This sharp decline wiped out more market value than all circulating Bitcoin combined.
The combined market cap of KOSPI constituents fell from ₩7,670 trillion ($5 trillion) to ₩4,960 trillion ($3.4 trillion) in less than 30 trading days. In dollar terms, the drop was 32%, slightly cushioned by the won’s strengthening against the US dollar from ₩1,537 to ₩1,456 per dollar since mid-June.
Yesterday alone, the index plummeted 10.8%, triggering South Korea’s stock exchange to pause trading for 20 minutes its ninth circuit breaker this year to stem the relentless sell-off. The rout dragged the KOSPI 36% below its June peak, hitting levels not seen since April.
For perspective, a single-day 10.8% fall in the S&P 500 would erase over $7 trillion, a sum eclipsed only by the GDP of the US and China. South Korea’s market meltdown has been especially brutal in this speculative, crypto-friendly environment, where losses have erased more than Bitcoin’s $1.3 trillion market cap during the same period.
Bitcoin itself has seen its own market cap halved since its October 2025 peak at $2.5 trillion, dropping to $1.26 trillion yesterday. Meanwhile, the Korean stock market continues its steep descent, highlighting the volatility gripping both traditional and digital assets.
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This material is informational and not financial advice.
