South korean stocks Plunge as Opposition Blames Lee Government
Opposition figures and the Seoul mayor blamed the Lee administration for a sharp market decline that pushed the KOSDAQ below its 2024 martial law low.
Opposition figures and the Seoul mayor blamed the Lee administration for a sharp market decline that pushed the KOSDAQ below its 2024 martial law low. Published 2026-11-09 by Falling Shares.
| By Falling Shares Intelligence, edited by Wung Thomas, Editor-in-Chief
Written by Falling Shares Intelligence, our automated newsroom, from the public sources listed below and live market data. Every figure is checked against that material before publication, but the story has not been reviewed by a human editor. Check the linked sources before relying on it, and report errors to info@fallingshares.com.
Shares in South Korea’s benchmark indices fell sharply on Monday after opposition leaders and the mayor of Seoul blamed the Lee Jae-myung government for the market’s decline. The KOSDAQ closed at 644.27, slipping below its level on the day martial law was declared in 2024.
Opposition targets government policy
South Korea’s opposition party blamed President Lee’s administration for the sharp stock market decline, demanding an apology. They also stepped up protests against a special counsel bill targeting Lee-related cases, accusing the president of mishandling the situation. Local media reported that the political fallout intensified as policy measures stalled.
Seoul Mayor Oh Se-hoon blamed the Lee government for the KOSPI plunge, stating that pension funds and leveraged products were affected by the administration’s actions. He described the stock market as having been turned into a casino under the current leadership. The opposition’s criticism focused on the perceived lack of effective policy responses to the market’s instability.
KOSDAQ hits multi-year low
The KOSDAQ index closed at 644.27, marking a significant drop as policy measures stalled. This level is below the index’s value on the day martial law was declared in 2024. The fall reflects broader concerns about the government’s ability to stabilize the market amid political uncertainty.
None of the reports reviewed by Falling Shares gave a reason for the fall beyond the political blame game. The opposition’s demands for an apology highlight the severity of the market’s reaction to the government’s handling of the crisis. Investors are likely focused on the political implications rather than specific corporate earnings or regulatory changes.