More than 360,000 South Korean margin accounts have reportedly been forcibly liquidated during the stock market’s leverage-driven reversal, with Citi estimates placing 62% of the affected accounts among investors under 35. Goldman Sachs separately estimated that more than 1.2 million leveraged retail accounts had triggered margin calls by July 13, with between 320,000 and 360,000 fully liquidated. Those estimates predate this week’s two-session crash, when the KOSPI lost more than 15% and brokers accelerated the closure of undercollateralized positions.