The South Korean stock market plummeted sharply this week due to the selling off of technology stocks, marking its worst weekly performance since March.

The South Korean stock market experienced a sharp decline on Friday, marking the largest weekly drop since the end of March, due to a global tech stock pullback and the stalled US-Iran talks, severely affecting investor risk appetite. The South Korean won fell to its lowest level against the US dollar since 2009. The benchmark KOSPI index closed down 478.82 points, a decrease of 5.54%, at 8160.59 points, marking the largest single-day percentage drop since May 15th. The index fell by 3.7% for the week. During trading, the KOSPI index fell by as much as 6.96%, triggering a "sidecar" trading suspension mechanism. Chip manufacturer Samsung Electronics fell by 6.4%, while SK Hynix fell by 9.9%. These two chip manufacturers have been continuously reshaping the global stock market rankings, driving the KOSPI index to rise by over 200% in the past year. The Korean won has fallen by nearly 7% against the US dollar so far this year, closing at 1,539.1 won to 1 US dollar, a 0.46% decrease for the day, reaching a low of 1,549.1 won at one point, the lowest since March 2009.