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Korean stock prices fall sharply after SK Hynix reports losses
South Korean stocks experienced a sharp decline, with the "SK Hynix" share recording a historic daily loss over approximately two decades, leading to a 20-minute trading halt. South Korean President "Lee Jae Myeong" confirmed that government support continues for massive chip factory projects, with investments estimated in the billions of dollars. Meanwhile, the company's CEO stated that the market expects a significant shortage of supply in 2027, with demand remaining above the company's production capacity for an entire year. The main indices ended with strong declines: the "KOSPI" index fell to 6,806 points, down by 8.95%, and the "KOSDAQ" index dropped to 799 points, a decrease of 4.55%.
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