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South Korea's KOSPI index faces a sharp contraction as investors pull back from semiconductor stocks, citing growing skepticism over the sustainability of massive AI-related expenditures.

A special counsel has requested an 18-month prison term for Seoul Mayor Oh Se-hoon, citing allegations of illegal political funding. The mayor maintains his innocence as the trial continues.

South Korean shares slid over 4% Wednesday as geopolitical tensions and cooling interest in AI tech valuations weighed heavily on local markets.

South Korea is set to shrink its military-controlled border buffer, easing restrictions for residents living near the North Korean frontier after years of administrative friction.

Seoul stocks hit a new record Wednesday, fueled by chip demand. Despite the winning streak, investors are holding back as they monitor the U.S. Federal Reserve's next interest rate moves.

South Korean stocks climbed nearly 1% as tech shares surged, with markets keeping a close watch on potential U.S.-Iran diplomatic talks in Qatar regarding the Strait of Hormuz.