The Kospi shed 6.1 percent to 5,656 with SK hynix losing 10 percent and Samsung more than 6 percent.
The market rout came after SK hynix reported bumper quarterly results that nevertheless fell short of elevated investor expectations.
South Korea’s Finance Minister Koo Yun-cheol said on Wednesday that the government is internally reviewing market stabilisation measures, speaking shortly after the plunge of the benchmark Kospi.
Speaking at the National Assembly, Koo said further adjusting regulations related to single-stock leveraged ETFs is possible to address market volatility.
In Hong Kong, Hang Seng Index rose 176 points, or 0.7 percent, to open at 25,487 points.
Financial markets on the mainland opened mixed, with the benchmark Shanghai Composite Index up 0.26 percent at 3,823 points.
The Shenzhen Component Index opened 0.08 percent lower at 13,498 points.
The STAR Composite Index, which reflects the performance of stocks on China’s sci-tech innovation board, opened 0.36 percent higher at 1,878 points.
The ChiNext Index, tracking China’s Nasdaq-style board of growth enterprises, was up 0.19 percent to open at 3,333 points.
Elsewhere, the benchmark index in Japan dipped into negative territory after opening marginally higher on Wednesday.
Shares of companies affected by Tuesday’s magnitude 7.1 earthquake in Kumamoto, southern Japan, including retailer Aeon and Nippon Paper Industries, showed limited reaction. (Agencies)
