South Korean shares fell 2.01% as AI CEO Dario Amodei warned of technology risks

South Korean shares fell sharply on Monday, with the benchmark KOSPI down 2.01% to 6,770.95 points. Technology stocks led the decline amid growing concerns about the pace and risks of artificial intelligence development. Anthropic CEO Dario Amodei called for a slower pace of AI model development to address potential misuse and safety issues. Chipmakers faced significant losses; Samsung Electronics dropped 2.12%, while SK Hynix declined 4.19%. Other major companies traded lower, including Hyundai Motor at -2.75% and LG Energy Solution at -1.25%. Market breadth remained weak, with 539 of 913 traded stocks falling. Foreign investors sold net shares worth $1.70 billion. In parallel, Brent crude oil rose approximately 3%. Rising tensions following new attacks on Saudi Arabia and ships in the Gulf contributed to the oil price increase. The postponement of a Monday meeting in Oman between Iran and Gulf states to discuss reopening the Strait of Hormuz raised fears about global energy supply disruptions. Despite the Monday decline, the KOSPI has gained 60.67% so far this year.