Crushed by Kospi rout, angry Koreans rip Lee and vow not to buy

South Korean retail traders have a history of taking risks, but the recent plunge in the Kospi index has left even the most experienced investors shaken. In July, the index fell 22%, the largest loss since the global financial crisis. Despite this, retail investors continued to pour money into the market, buying about 78 trillion won worth of Kospi shares in May and June.

However, the rapid swings in the index in July left many investors angry and rethinking their approach to investing. Some, like Kim Han-kyung, have vowed never to invest in the Korean stock market again. The government's attempt to reform the market and promote single-stock leveraged ETFs has been met with criticism, with many blaming these products for amplifying volatility.

Trading in Kospi stocks was halted four times during the month, a record number of circuit-breaker suspensions. Despite the turmoil, the AI boom that drove the rally remains intact, but many investors are wary of the risks and uncertain about whether they can ever regain their confidence in the market.