South Korea's KOSPI index fell over 8% yesterday, wiping out more than $2 trillion in market capitalization since its June peak, a loss exceeding the country's entire 2025 annual GDP of about $1.9 trillion. The index closed yesterday at 5,554, down 7.6% on the day and extending consecutive daily losses to seven. Intraday, it fell as much as 9.3%, triggering its 10th circuit breaker of the year. Samsung Electronics and SK Hynix, two AI chip companies, account for 70% of the KOSPI's drawdown since June. The Financial Services Commission chairman called an emergency meeting on Thursday, instructing financial services firms to maintain vigilance and actively respond to ensure market stability and investor protection.