KOSPI erases an entire year’s worth of South Korean GDP

South Korea’s stock exchange halted trading for 20 minutes yesterday as the country’s KOSPI index fell more than 8% in a single day. Since its June peak, its drawdown now exceeds 40%, worth more than $2 trillion in market capitalization. Followed domestically the same way US investors follow the S&P 500 index, KOSPI’s rout has downranked South Korea’s AI-focused stock market from sixth to 10th among the world’s countries. For scale, the loss tops South Korea’s entire annual economic output of about $1.9 trillion in 2025. It also exceeds the value of every BTC in existence, about $1.6 trillion. Concerningly, KOSPI’s loss exceeds the assets of South Korea’s National Pension Service , the world’s third-largest retirement fund holding about $1.3 trillion worth of savings that have obviously shrunk alongside the…

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