---
symbol: "EWY"
name: "iShares MSCI Korea ETF"
date: 2026-07-27
change_pct: -5.913530252501179
direction: "down"
event_type: "theme_sympathy"
url: "https://perplo.app/why/EWY/2026-07-27"
updated_at: 2026-07-27T17:06:45.401Z
---

# Why iShares MSCI Korea ETF (EWY) fell 5.91% on July 27, 2026

iShares MSCI Korea ETF (EWY) fell 5.91% on July 27, 2026 — Korean political risk weighs on tech ETF.

## What happened

South Korea's tech sector is broadly weak; Yoon's election law conviction puts the ruling PPP at risk of losing W40b won in campaign funding.

## Why it moved

Political uncertainty and policy risk trigger risk-off flows across Korean equities; funding constraints and political turmoil weaken reform agendas and invite foreign investor flight.

## Why it matters

Korea Tech faces structural headwinds; BCA is flagging a 3-month rotation into China, implying Korean equities will underperform.

## What would break the thesis

If the PPP quickly replaces Yoon or election authorities overturn the funding ruling, political risk could ease.

## Sources

- [PPP at risk of losing W40b won after Yoon's election law conviction](https://www.koreaherald.com/article/10822021) — Korea Herald
- [Rotate to China: BCA tips 3-month reversion trade away from South Korea stocks](https://www.investing.com/news/stock-market-news/rotate-to-china-bca-tips-3month-reversion-trade-away-from-south-korea-stocks-4812800) — Investing.com

---

Trade EWY perpetual futures 24/7 onchain: https://perplo.app/asset/EWY