hile South Korea’s export-dependent economy grew 2.6% in 2022, its stock market was one of the worst performers in Asia over the past 12 months. The benchmark Kospi index fell 9% amid rising interest rates and a slump in demand for tech goods, which account for a third of the country’s total exports. That together with a weaker won resulted in the collective wealth of the country’s 50 richest falling 18% to $106 billion from $130 billion last year.