Over 300,000 accounts in South Korea have already been fully liquidated by brokerages: From “earning five years’ salary effortlessly” to “losing five years’ savings”

Golden Ten Data July 19th — According to Every Economic News, from July 1st to July 13th, Korea’s two major storage giants saw sharp declines: SK Hynix retreated nearly 40% from its peak, while Samsung Electronics fell back nearly 30%. A wave of forced liquidations swept through the Korean stock market. According to Brokerage China, citing official South Korean statistics on July 19th, as of July 13th, the total scale of forced liquidations in July reached 344.2 billion Korean won (about 1.57 billion RMB), with a single-day scale of 144.2 billion Korean won on July 9th alone. Over 1.2 million leveraged retail accounts across the entire market hit the margin call line, among which about 320,000 to 360,000 accounts have been fully forced liquidated by brokers, and some accounts even ended up owing money to brokers.