[Photo] KOSPI plummets beneath 2,000 points

South Korea’s KOSPI stock index hall fell beneath 2,000 points, often referred to as the index’s “safety line,” on Oct. 29. The KOSDAQ index also experienced a plunge of five percent, falling below 620 points. This was the first time the KOSPI index fell beneath 2,000 points in the two years since December 2016. Foreign investors have unloaded more than 4 trillion won (US$3.5 billion) in shares of KOSPI and KOSDAQ stocks during the month of October. Experts have pointed to South Korea’s heavy reliance on exports and foreign trade as well as the US Federal Reserve’s interest hikes as the main culprits. (Baek So-ah, staff photographer)