99% of South Korea Robo-advisor Products Post Losses Amid Market Turmoil

According to data released Friday from Koscom's Robo-Advisor Testbed Center, 99% of 629 domestic asset-based robo-advisor products recorded negative returns, with only 10 posting gains. The worst performer fell 31.32%. Even among 209 products classified as conservative, the maximum decline was 17.52%, and only six turned a profit.

Robo-advisors are financial services that use artificial intelligence algorithms to manage or advise on investor assets with minimal human intervention. During the period, the benchmark KOSPI index surpassed the 9,000-point mark for the first time in history on June 18, then plunged to the 5,000-point level after triggering circuit breakers on two consecutive days (July 28-29) amid extreme volatility.