Just by looking at the chart you would think that SKHY is bankrupt, but it's actually one of the most profitable companies in the world with record revenue and a positive demand outlook. I think that what we're seeing with the Korean stock market is the result of a liquidation cascade similar to the infamous October 10 event that we had in crypto. The Koreans stock market was jacked to the tits leveraged long on an index of which its weighting was comprised for 60% of only 2 companies: Samsung and SK Hynix. The ETF leverage and call options open interest was at an all time high. SK's stock market had become the 6th largest in the world after a monstrous run of +120% since January. Then the market started running on fumes because who was left to buy? Combine that with some CAPEX fears, AI bubble fears that start brewing and a shit ton of leverage and... On July 13 there's an epic liquidation cascade where the circuit breaker hits and 1.2 million Korean retail accounts get blown up. Just like with crypto's Oct 10 event, this isn't something that the market can quickly recover from. As two cherries on top the Bank of Korea raises the interest rate for the first time in three years, and it becomes clear that China's AI & semicon companies are better competition than previously thought. Thus we're seeing an epic crash that the KOSPI hasn't experienced since the Covid crash. Today the Korean government held an emergency meeting to discuss if they should do an intervention. But the funny thing is that this isn't because of major fundamental issues. In fact Samsumg and SK Hynix are still printing phenomenal numbers all in the midst of a tech revolution. This is the result of forced selling, not collapsing fundamentals.(Byzantine General)