KOSPI: 5 trading halts in 2 weeks, and it's not a crashKOSPI Composite IndexKRX:KOSPIgunotchOver the past two weeks the KOSPI triggered 5 sidecars and one circuit breaker. On June 23 it did both in the same session, an intraday drop of almost 10%. But this isn't a bear market. The index is still up around 100% this year, and it set new all-time highs just days before the crash. The reason it swings this hard is concentration. Samsung and SK Hynix together make up more than half of the entire index. Add the single-stock leveraged ETFs built on them, and the KOSPI now trades less like a broad market and more like one leveraged bet on AI memory demand. You can see it on the chart. The rallies and the halts cluster around the same two names. When Micron flagged that next-year HBM is already sold out, the index ripped 5% in a day. When US AI-capex confidence wobbled, it fell 10%. Korea has now had more sidecars in 2026 than in all of 2008. For anyone tracking the AI hardware trade, the KOSPI is one of the cleanest real-time reads on sentiment, in both directions. Not financial advice. Just an observation on market structure.