KOSPI · November 13, 2000

The week a big company was let go

-4.64%

single-day change vs previous close

Part of a longer stretch

Korea's dot-com hangover

midway through · 2000-01-04 → 2001-09-17, -55.74% over the whole period

What happened that day?

13 November 2000 — the KOSPI fell 4.64% to close at 538.94. No single cause can be pinned to the day
Around then Korea decided to stop propping up one large carmaker — a major test of the restructuring that followed the currency crisis
When a big company is wound up, its parts suppliers and its lenders go with it. That is what widens the effect on the index
At the same time American technology shares were collapsing and the presidential result was still unsettled
The Korean market took both at once: restructuring at home, a bursting bubble abroad
The next session took it back. Large swings in both directions were ordinary in this period
From the mid-July high to the 22 December low the index fell 38.37%

Sources

Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is put together from the public record; where a specific source was consulted it is listed above.