On the 18th, a rare incident occurred where trading in the KOSPI market halted for about 7 minutes due to a system error at the Korea Exchange. This is the first time since the integration launch of the Korea Exchange in 2005 that trading for all stocks has gone 'dark.'
According to the Korea Exchange and others, from 11:37 a.m. to 11:44 a.m., a computer glitch occurred in the securities market (KOSPI), causing delays in stock transaction execution. For 7 minutes, all securities companies' home trading systems (HTS) ceased operation, and stock price checking and order execution did not occur.
The exchange identified the primary cause of the computer glitch as DONG YANG STEEL PIPE. An error in trading execution for DONG YANG STEEL PIPE triggered delays in the exchange's systems. Even after the KOSPI-related system was restored, issues persisted, leading to a trading halt from 12:05 p.m. to 3 p.m.
From 3 p.m. to 3:10 p.m., after a 10-minute order acceptance period, trading resumed for DONG YANG STEEL PIPE with a single price sale, and the stock skyrocketed. DONG YANG STEEL PIPE ended trading at 1,119 won, up 29.97% compared to the previous trading day. This exceeded the stock price increase before the trading halt (19.4%).
Since the integration launch of the exchange in 2005, there have been several system errors, but this is the first time all 850 tradable stocks have been halted. The exchange stated, 'We will identify the causes of the computer glitch and investor inconveniences and establish measures to prevent recurrence, making every effort to stabilize the system.'
Meanwhile, during the 7 minutes when KOSPI trading was halted at the exchange, transactions through the alternative exchange Next Trade were confirmed to have proceeded normally. Currently, there are 55 KOSPI stocks and 55 KOSDAQ stocks available for trading on Next Trade.