Seoul Shares Plunge Over 5% Amid Tech Sell-Off

On October 13, 2026, Seoul's stock market experienced a sharp decline, with the benchmark Korea Composite Stock Price Index (KOSPI) falling by 5.46%, closing at 6,035.35 points.

The drop was primarily influenced by a sell-off in technology stocks, as investors reacted to ongoing concerns regarding inflation and the performance of companies involved in artificial intelligence. Notably, Samsung Electronics saw a decrease of 7.39%, while SK Hynix plummeted by 10.09%.

Analysts, including Han Ji-young from Kiwoom Securities, noted that worries about OpenAI's revenue and the completion of local chipmakers' share buybacks were contributing factors to the decline in tech stocks.

Foreign investors sold a net 4.51 trillion won (approximately $3.35 billion) worth of stocks, further exacerbating the market's downturn. In contrast, institutional and individual investors bought a net of 1.69 trillion won and 2.23 trillion won, respectively.

As the market continues to react to these pressures, investors are closely monitoring upcoming economic indicators, including the U.S. consumer price index report, which could influence future Federal Reserve policy decisions.