---
symbol: "EWY"
name: "iShares MSCI Korea ETF"
date: 2026-07-28
change_pct: -6.931046802429432
direction: "down"
event_type: "theme_sympathy"
url: "https://perplo.app/why/EWY/2026-07-28"
updated_at: 2026-07-28T01:06:43.017Z
---

# Why iShares MSCI Korea ETF (EWY) fell 6.93% on July 28, 2026

iShares MSCI Korea ETF (EWY) fell 6.93% on July 28, 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

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