Crash · KOSPI Index (1997)
Step into a 144-day Korean equity slide that shaved 32.4% off the KOSPI by 1998-03-26. Replay each session, navigate 25 decision points including 9 critical junctures, and receive an AI coach review of every simulated call.
144 daily bars · 25 decision points · 1997-08 to 1998-03 · Stocks
Key facts
This window spans 219 days with a peak-to-trough drawdown of 53.0% and a 63.8% run-up.
- Max drawdown
- −53.0%
- Max run-up
- +63.8%
- Duration
- 219 days
- Largest single-day move
- −11.0%
- Bars
- 144 Daily bars
- Decision points
- 25
Every figure above is computed programmatically from this replay’s own candle series — no editorial input, no LLM. Methodology: Methodology
The market advances day by day. You only see candles up to the current day — as if you were really there.
At key decision points choose Buy / Trim / Exit / Hold. Each decision advances the timeline by one day.
After settlement you get a six-dimension score and an AI coach review. Your result enters the scenario leaderboard.
Event Replay
What happened — and what it teaches
In the late summer of 1997, the Korean equity market entered one of the most consequential stress tests of its modern history. The KOSPI Index slid through a 144-day window that stretched from August 19, 1997 into March 26, 1998, a period dominated by policy resets, currency strain, and a reshaping of how foreign and domestic capital viewed Korean risk. Against this backdrop, participants were forced to decide under conditions where the rules themselves were changing, and where each session carried the weight of headlines as well as charts.
What unfolded over those months was a steady, grinding decline punctuated by violent shocks. The index closed the period at 501.13, down from 741.29 — a full -32.4% drawdown across the window. Underneath that headline number, the path was anything but smooth: the maximum drawdown reached 53.0%, meaning peak-to-trough pain was far deeper than the endpoint suggested, and the largest single-bar move was 11.0%, a reminder that volatility, not direction, was the defining feature of the era. Across 144 daily bars and 25 decision points — 9 of them flagged as critical — every session asked a participant to weigh policy expectations, liquidity, and positioning against a tape that could swing double digits without warning.
The replay turns that environment into a decision-training laboratory. The lessons are not about predicting the bottom but about process: how a trader sizes exposure when an 11.0% one-day move is on the table, how they react when the maximum drawdown deepens far beyond the endpoint loss, and how they separate policy noise from regime change. It is also a study in psychology, where recency bias, capitulation, and the urge to “wait for clarity” can each become the most expensive mistake. The value of the exercise lies in rehearsing those reflexes while the capital on screen is simulated — building muscle memory for the next time a market rewrites its own rules in real time.