The South Korean economy is experiencing a significant market crash due to a debt-fuelled tech stock boom, resulting in substantial financial losses for many investors.

RE: https://cosocial.ca/@dyckron/117027856876620194 This sounds bad. 😬 "In the past five weeks, the market has collapsed, shedding almost 40 per cent, and threatening the livelihood of millions of South Koreans... More than a million South Koreans are underwater as a result of the crash, and several hundred thousand have lost everything, and then some. They borrowed to the hilt to take part in a frenzied splurge on technology stocks, particularly memory chip makers, in a market now experiencing a savage reversal. Nothing, not even the stellar earnings of the country's two biggest chip makers, has been able to stem the panic, primarily because the debt that fuelled the stock market boom is now accentuating the crash." #AI #Stocks #tech #technology #SouthKorea #economy #bubble

Uh-oh! A debt-fuelled boom "More than a million South Koreans are underwater as a result of the crash, and several hundred thousand have lost everything..." "They borrowed to the hilt to take part in a frenzied splurge on technology stocks, particularly memory chip makers, in a market now experiencing a savage reversal." "Nothing, not even the stellar earnings of the country's two biggest chip makers, has been able to stem the panic..." Via: @SrRochardBunson https://www.abc.net.au/news/2026-08-03/korean-markets-threatening-upset-tech-boom/106981956 #Tech