South Korea's Kospi Index Plummets Over 6% Amid Tech Stock Sell-Off

South Korea's stock market faced a significant downturn on Friday, with the Kospi Index falling over 6% due to a sell-off in major tech stocks. This decline has raised concerns about the stability of AI-related shares, particularly following Samsung Electronics' announcement of an upcoming labor strike involving thousands of workers. The market's volatility reflects broader trends affecting Asian markets, prompting investors to reassess their positions.

By Narendra Chaudhary May 15, 2026, 20:40 IST

Significant Decline in South Korea's Stock Market

The South Korean stock market experienced a dramatic sell-off on Friday, with the Kospi Index dropping more than 6%. This downturn marked a retreat from its previous record highs, primarily influenced by a decline in major technology stocks amidst a broader downturn across Asian markets. The Kospi Index concluded the trading session at 7,493.18, having previously surpassed the 8,000 mark in earlier trading.

The sharp decline in technology shares has raised alarms regarding artificial intelligence stocks. Notably, Samsung Electronics saw its shares plummet by over 8% following an announcement from its labor union about an impending 18-day strike starting May 21, which will involve more than 45,000 workers. Additionally, SK Hynix shares also experienced a significant drop, falling by over 7.5%.