KOSPI · July 24, 2000

A summer slide in the year the bubble emptied

-5.77%

single-day change vs previous close

Part of a longer stretch

Korea's dot-com hangover

early in it · 2000-01-04 → 2001-09-17, -55.74% over the whole period

What happened that day?

The KOSPI fell 5.77% to close at 737.89. No single trigger for the day could be pinned down
The market was sliding 44.77% from its March high to its December low
Money that had crowded into internet companies was draining out, hardest in emerging markets
A domestic problem sat on top of it. One large conglomerate's funding trouble weighed on the market all that summer
The lenders to that group were shaken with it, so one company's problem became the market's problem
The low was four months away, in December

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.