Korean stock market swings wildly—circuit breakers repeatedly triggered; at least 320k accounts’ principal wiped out

On July 16, the South Korean stock market plunged sharply: the KOSPI fell by more than 6%, and the Korea Composite Stock Price Index is down 26% from its June peak. Just on July 13, the Korean stock market saw a “massacre,” with the KOSPI index down nearly 9%, losing the 7,000-point level.
So far this year, the Korea Exchange has triggered the circuit-breaker mechanism 8 times during periods when it launched “temporary trading halts” 37 times.
According to disclosures by the Financial Supervisory Service of Korea, as of July 13, more than 1.2 million leveraged retail accounts in the Korean market had received margin call notices for additional collateral; of these, about 320k to 360k accounts had been forcibly liquidated by brokers, with principal wiped out, and some accounts even showed negative balances. $SOL
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