Korean Stocks Plunge 9% on Chip Selloff

• South Korean Kospi plunged over 7%, with major chipmakers like Samsung Electronics and SK Hynix down significantly (7-10%).
• Apple's decision to hike prices on products like MacBooks and iPads due to memory costs, following supply shortages, signals broader industry challenges.
• Concerns about Open AI delaying its IPO and the South Korean government's public spending spree for chip manufacturing are contributing to market uncertainty and a 'two-edged sword' scenario for the AI trade.

South Korean stocks experienced a significant sell-off, triggering a trading halt, driven by a 'trifecta' of factors: Apple's memory cost concerns leading to product price hikes, Open AI delaying its IPO, and South Korean chipmakers announcing large capital spending plans. This combination has injected high volatility and negative sentiment into the Asian tech sector, particularly for memory chip manufacturers.