KOSPI plunged more than 14% amid hotter-than-expected inflation, concerns around AI-related credit and Chinese DRAM maker

This Korea Weekly Kickstart examines the sharp sell-off in Korean equities. The KOSPI plunged more than 14% this week amid hotter-than-expected inflation, concerns around AI-related credit and a Chinese DRAM maker, and has now fallen more than 20% over the past eight trading days, a magnitude of decline previously seen only during the Asian Financial Crisis, the Global Financial Crisis and the COVID-19 outbreak. Pharmaceuticals, food & beverage and leisure outperformed, while tech, machinery and shipbuilding lagged most. Foreign investors continued to sell the KOSPI market, driven by outflows from KOSPI tech;