South Korea's KOSPI Plunges on AI Demand Doubts as Volatility Gauge Hits Record

South Korea's benchmark KOSPI index fell about 10% on June 23, 2026, its worst single-day drop in more than three months. AI memory-chip giants Samsung Electronics and SK Hynix both slid over 12%, and by the 24th the KOSPI 200 Volatility Index (VKOSPI)—South Korea's equivalent of the VIX—reached a record high. Doubts over the durability of AI-related demand are behind the move.