South Korea's benchmark stock index lost over eight percent, falling below one-thousand-500 on this Thursday afternoon. 

As of 12:18 p.m., the benchmark Korea Composite Stock Price Index(KOSPI) stood at one-thousand-461-point-98, losing eight-point-12 percent from the previous close. 

KOSPI and the Korean won on Wednesday closed at ten-year lows.  

The Korea Exchange, the country's stock market operator, said that a circuit breaker was activated on the main KOSPI and secondary KOSDAQ as of 12:05 p.m. to temporarily suspend trading.   

The main market started strong Thursday morning, rising two-point-19 percent after opening, but the index began to plunge as foreigners dumped a net 316-point-six billion won worth of shares. 

As of Thursday morning, institutions and individuals net bought about 50 billion won and 139 billion won, respectively.

The continued market crash came as investors found the economic stimulus measures by major economies are not sufficient to kick start the sluggish market.