Many people ignored one factor behind the big drop in South Korean stocks: crude oil

As oil prices rise, the US is dealing with inflation, while South Korea has to endure a “fourfold blow” of inflation + currency exchange rates + corporate profits + foreign capital pullout
KOSPI looks like a semiconductor index, but in reality it’s a highly leveraged market that depends on imported energy, export manufacturing, and overseas capital. And with South Korea relying on imported fossil fuels for nearly 98%, oil accounts for 37%
As long as crude oil rises, South Korean stocks will inevitably fall. On February 28, after Trump’s airstrike on Iran, US stocks fell 1.5%, and South Korean stocks wiped out 20%—energy-poor countries are just too hard to handle......