South Korea's KOSPI falls 6% as opposition blames Lee government
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The gist
South Korea's KOSPI fell 324.11 points, or 6.02 percent, to close at 5,059.69.
It was the second straight losing session, and the opposition blames President Lee Jae-myung.
Background
The KOSPI is South Korea's main stock index. It fell for a second consecutive session on Nov 6, 2026, amid fears that a Democratic Congress in the U.S. could slow AI data center construction. The People Power Party, South Korea's main opposition, then intensified criticism of President Lee Jae-myung's administration over the decline, accusing it of taking credit for rising share prices while blaming external factors when the market falls.
How it unfolded
- Nov 5, 2026The combined market value of Hanwha Aerospace, LIG D&A, Hyundai Rotem and Korea Aerospace had plunged to about 62 trillion won ($46.18 billion) as of end-October, from a 52-week peak of 170 trillion won, per SBS.
- Nov 6, 2026The KOSPI fell 324.11 points, or 6.02 percent, to close at 5,059.69, its second consecutive session of losses, amid fears a Democratic Congress could slow AI data center construction.
- Nov 8, 2026The People Power Party intensified criticism of President Lee Jae-myung's administration over the stock decline.
Key terms
- KOSPI
- The representative stock market index of South Korea, covering all common stocks traded on the Korea Exchange.
- People Power Party
- A conservative, right-wing populist political party in South Korea and the country's second-largest party.
Source: Wikipedia
Who’s saying what
- Party
- The People Power Party accused the government of taking credit for rising share prices while blaming external factors when the market falls.