The KOSPI index is experiencing extreme volatility, triggering seven circuit breakers this year—more than the total combined during the dot-com bubble, 2008 crisis, and COVID-19 pandemic. The index, which recently fell 7.96% in a single day to 6,880.97, is heavily concentrated with Samsung and SK Hynix representing half of its value. This concentration effectively turns the KOSPI into a leveraged bet on the memory sector rather than a diversified stock market.