What happened 1997 AD in Korea

The Seoul stock exchange fell by 4% on 7 November 1997.

On 8 November, it plunged by 7%, its biggest one-day drop to that date.

In the wake of the Asian market downturn, Moody's lowered the credit rating of South Korea from A1 to A3, on 28 November 1997, and downgraded again to B2 on 11 December.