Business · Markets · 1 hr ago

South Korea’s 10 largest groups lose 1,101 trillion won in market value

South Korea’s 10 largest groups lose 1,101 trillion won in market value

The listed companies of South Korea’s 10 largest groups lost 1,101 trillion won in market value between the end of last month and October 23.

Their combined value fell 24.6%, more than the 18.83% drop in the KOSPI, South Korea’s main stock index.

Samsung and SK accounted for 996 trillion won of the losses, or 90.4% of the total.

SK had the biggest percentage decline among the groups, while Samsung had the largest loss in value.

Shares fell amid doubts about the returns from AI investment and foreign investor selling, particularly in the semiconductor sector.

The end of share buyback programmes at Samsung Electronics and SK Hynix also removed a source of support for their share prices.

The figures cover the period through October 23, and no further market developments are specified.

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