Korea's Kospi halts trading for seven minutes

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Korea's Kospi halts trading for seven minutes

Published: 18 Mar. 2025, 13:50 Updated: 18 Mar. 2025, 18:08

PARK EUN-JEE
[email protected]

A person passes by a screen in Hana Bank's trading room in central Seoul on March 18. [YONHAP]

Trading on Korea’s main Kospi bourse was halted for seven minutes on Tuesday due to an error in the system, hampering investors’ buying and selling on the home trading system of major brokerages.

The stoppage took place at 11:37 a.m. and resumed at 11:44 a.m., according to a statement released by the Korea Exchange (KRX), the operator of the indexes.

Other exchanges, including the secondary Kosdaq and alternative stock-focused Nextrade, operated normally during that time.

The KRX said that a system failure related to trades of Dong Yang Steel Pipe had caused the delays.

Trading of Dong Yang Steel Pipe was suspended at 12:05 p.m. and resumed at 3 p.m.

The exchange vowed to identify the exact cause of the failure, in order to address investor concerns, and to strengthen the stability of its systems to prevent recurrence.

BY PARK EUN-JEE [[email protected]]