South Korean Markets Fall Sharply as Middle East Conflict Raises Oil Supply Concerns

South Korea's stock markets plunged sharply amid escalating Middle East conflict, with the Kospi and Kosdaq indices falling over 8% and 12% respectively, triggering circuit breakers for consecutive days. The South Korean won weakened past 1,500 per US dollar, its lowest level in 17 years, reflecting concerns over the country's heavy reliance on Middle Eastern oil imports. The conflict involving Israeli, US, and Iranian forces has driven oil prices higher and increased market volatility, prompting significant foreign investor sell-offs and raising fears of prolonged regional instability.