South Korea’s stock market uses a maximum leverage of 2.5x. If the share price drops by 23%, margin is called and liquidation top-ups are triggered; if the client does not replenish the margin, then on T+2, forced liquidation will be executed in the call auction without needing any client confirmation. In other words, tomorrow morning there will be a wave of burst-liquation (forced liquidation) orders—perhaps it’s a good opportunity to buy the dip.