South Korea’s stock market is having this wave of volatility—straight back to the vibe of 1998. The leverage frenzy fueled by the AI boom is now all being unwound, and the familiar feeling is back.

Crypto News Flash — The volatility in the South Korean stock market has reached the highest level since the 1998 Asian financial crisis. Driven by the AI boom, the South Korean stock market has benefited significantly. Data shows that a metric measuring 60-day price volatility for the MSCI Korea Index has risen to its highest level since February 1998, even exceeding the level seen during the 2008 global financial crisis. Earlier, amid frenzied trading and a surge of leveraged capital, the MSCI Korea Index hit a record high. Now, the index is down 28% from its June peak, and it plunged 10% on Monday, falling back to a level from more than two months ago.