Capital is starting to abandon the Korean market again. In March alone, foreign investors pulled a net $23.2 billion out of Korea, setting a new record for monthly sell-offs. The Korean won has dropped to its weakest level in 17 years. The main reason? Two stocks crashed: Samsung and SK Hynix. You probably already know these two. The whole memory chip concept got hyped to the moon. These two alone account for nearly 40% of the entire Korean stock market. At the end of February, Korea was just celebrating breaking 6,000 for a new all-time high. One month later, it’s down 1,000 points. When the market was rising, people thought it was Korea’s national fortune on the rise. When it crashed, they realized—it’s all just gamblers. And Korean retail investors have hit record-high leverage. A $4 trillion market propped up by two semiconductor stocks... wow. Don’t ask me how I know. Because I’m stuck holding SK Hynix too.