From euphoria to despair, Korea reckons with stock mania's emotional toll

SEOUL, Aug 21 : It was a vision to give South Korea a stock market that reflected its true economic dynamism, by shedding regulatory taboos and encouraging bolder bets - instead, it created an investor trauma that could take years to shake.The 30 per cent decline in the KOSPI benchmark since its June 19 peak has hurt President Lee Jae Myung's government politically and turned the spotlight on an economic system that drove retail investors into poorly understood leveraged products.It has also raised questions about how South Korea, a tech powerhouse, can progress to developed market status when it hosts such extreme behaviour by retail investors, known locally as "ants" for their tendency to swarm into trades."Ultimately many who entered the market may have suffered severe losses, and a maj