On June 30, Goldman Sachs' Timothy Moe and John Kwon pointed out that for every 1 percentage point increase in the combined weight of Samsung and SK Hynix in the Korea stock index, foreign investors could withdraw approximately $2 billion from the Korean market, as the U.S. Investment Company Act requires portfolios to meet diversification thresholds.

Goldman Sachs also stated that a flood of money into leveraged ETFs, combined with increased options trading and margin retail trading, has created a structural environment where daily price volatility far exceeds what corporate fundamentals can support. Since last year, the growth in assets under management in Korea has mainly come from investment returns rather than new inflows.

As valuations rise, institutional investors' mechanical exposure to market volatility is also increasing—often linked to hedging strategies. This means that even a moderate market correction could trigger a chain of forced selling. #0成本拿2股SK海力士