South Korean stocks in tailspin as Kospi crashes 8%, head for worst week since March

South Korean stocks experienced a dramatic plunge, exceeding 8% and triggering a trading halt. This sharp decline was primarily driven by a significant selloff in major semiconductor companies like Samsung Electronics and SK Hynix, alongside broader global tech sector weakness. The benchmark KOSPI index is now on track for its worst weekly performance in over three months, despite recent strong gains fueled by AI and chip demand.