Korea convenes emergency meeting in response to stock market plunge

The South Korean government convened an emergency meeting on Aug. 5 in response to a significant stock market plunge and began devising countermeasures, according to the Chosun Ilbo. Depending on how the market evolves, another meeting involving the heads of economic and financial institutions may take place on Aug. 6. The Korea Composite Stock Price Index (KOSPI) closed at 2,441.55 on Aug. 5, marking an 8.77 percent drop from the previous trading day, while the Korean Securities Dealers Automated Quotations (KOSDAQ) finished at 691.28, down 11.30 percent.