South Korea's KOSPI index fell 7.57% on October 15, 2026, as investors questioned whether heavy AI spending will pay off. Samsung Electronics and SK Hynix led the sell-off, and foreign investors sold billions of dollars in Korean shares during October.
The KOSPI fell 7.57% to close at 5,554.22 on October 15, 2026, its lowest finish since April. Investors are asking whether the money going into AI infrastructure will turn a profit.
Chipmakers lead the drop
Samsung Electronics dropped about 9.5% on the day, while SK Hynix slid approximately 11%. SK Hynix now sits roughly 35% below its peak value, and Samsung is down roughly 22% from its high.
The index itself has fared even worse. The KOSPI peaked at 9,386 in June 2026 and has since fallen approximately 40% from that level. The selling also triggered circuit breaker interventions on multiple trading days, including October 15.
Inflation data and AI forecasts add pressure
Several forces converged. First came higher-than-expected US inflation data, and hotter inflation raises the odds that interest rates stay elevated or climb further.
Second, signs of financial distress surfaced across AI-related sectors. Third, OpenAI and Anthropic issued revenue forecasts that disappointed the market.
Foreign investors also sold billions of dollars in Korean shares during October 2026.
New listings feel the strain
The pessimism reached new listings. AI-related firm Elice made its market debut on October 20, 2026, and its shares plunged 32%.
The KOSPI had surged 116% earlier in 2026, a rally driven heavily by enthusiasm for AI and semiconductors. Even after the recent losses, it is still up about 30% year-to-date.
Continued selling by overseas investors would keep weighing on Korean equities.
Source: Crypto Briefing
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