Default · KOSPI Index (1998)
Corporate defaults swept the 1998 KOSPI as the index swung from 301.37 to 523.99 over 146 turbulent days. Replay each session, navigate 25 decision points, and receive AI coach feedback in a purely educational, simulated environment.
146 daily bars · 25 decision points · 1998-07 to 1999-02 · Stocks
Key facts
This window spans 213 days with a peak-to-trough drawdown of 20.3% and a 120.1% run-up.
- Max drawdown
- −20.3%
- Max run-up
- +120.1%
- Duration
- 213 days
- Largest single-day move
- +10.5%
- Bars
- 146 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 summer of 1998, South Korea's KOSPI index stood at the epicenter of an economic crisis that had swept across Asia. Corporate defaults were mounting as major chaebols collapsed under the weight of massive debt burdens and foreign capital fled the market. The period from mid-July 1998 through February 1999 captured the nation at a crossroads—investors faced the question of whether Korea's financial system would survive the shock or spiral further into chaos.
Over 146 trading days, the index swung from 301.37 to 523.99, delivering a 73.9% recovery that masked extraordinary turbulence beneath the surface. The maximum drawdown of 20.3% and single-bar moves of up to 10.5% revealed a market prone to violent reversals and panic-driven selling. Navigating these swings required not just conviction in recovery, but the discipline to manage risk through environments where daily volatility could test even seasoned participants.
This historical episode trains participants to confront fundamental questions about decision-making under extreme uncertainty. With 25 decision points, including 9 critical junctures, the scenario forces engagement with both the psychological pressure of near-collapses and the process discipline required to survive them. The lesson is not about predicting the bottom, but about maintaining sound risk management when fundamentals and market prices diverge dramatically.
Featured in the archive