The benchmark Korea Composite Stock Price Index(KOSPI) closed below the two-thousand threshold for the first time in 22 months on Monday. It lost 31-point-10 points, or one-point-53 percent to close the day at one-thousand-996-point-05. 

South Korean stocks ended down for a fifth consecutive session, despite the government’s announcement that it will set up a 500 billion-won fund to stabilize the financial market. 

The tech-heavy KOSDAQ also plummeted, losing a whopping 33-point-37 points, or five-point-03 percent. It closed the day at 629-point-70.

Foreign investors sold more than 180 billion won worth of stocks, while individuals sold over 300 billion won.

On the foreign exchange, the local currency strengthened point-five won against the dollar, ending the session at one-thousand-141-point-four won.