The $350 billion investment between the US and South Korea is stuck, stock markets plummet, and the retail investor army composed of South Koreans goes against the trend to rescue the market.
After the South Korean National Assembly did not pass the $350 billion investment agreement with the US, Trump officially launched a tariff increase on South Korea in the early morning, and the Seoul Stock Exchange turned red, especially for the automobile stocks that heavily rely on the US market. Hyundai Motor plunged 4.8% within 30 minutes of opening, with nearly 12 trillion won evaporated from the market, and institutional investors rushed to cut losses and escape.
What is different is that the united retail investors in South Korea are all swimming against the tide, raising 23 trillion won to enter the market. According to data from the Korea Financial Settlement Agency, the number of newly opened stock accounts on that day alone reached 870,000, with young people aged 20-30 accounting for 63%. Retail investors raised 23 trillion won (equivalent to $17 billion) through methods such as cryptocurrency pledging and cashing out credit cards, ultimately pulling the KOSPI index up by 0.8% despite a 3.2% drop, proving that with enough unity, ants can also defeat elephants.