According to financial information provider FnGuide, the combined market capitalization of the country's 10 largest business groups stood at about 3,371.44 trillion won as of Friday, down some 1,101 trillion won from 4,472.53 trillion won at the end of last month.
The decline came as the benchmark Korea Composite Stock Price Index (KOSPI) plunged 18.8 percent this month.
SK Group suffered the steepest loss, with its market capitalization falling 30.1 percent to 1,093 trillion won from 1,563 trillion won at the end of September. The decline was largely driven by sharp drops in SK hynix and SK Square, the group's two largest listed companies by market value, amid doubts over profits from artificial intelligence (AI)-related spending.
Shares of SK hynix fell 28.1 percent this month, wiping out about 365 trillion won in market value while SK Square shares dropped 32 percent, shedding about 48 trillion won.
HD Hyundai Group saw the second-largest decline, with its market capitalization falling 25.6 percent to 95 trillion won from about 128 trillion won during the same period, as five of its eight listed companies are shipbuilders whose shares have fallen amid concerns that the industry's long-running boom may be coming to an end.
Samsung Group came next, with its market capitalization shrinking 24.3 percent to 1,636 trillion won from 2,161 trillion won. The decline was largely due to losses in semiconductor shares, as Samsung Electronics' market capitalization fell 19.6 percent to 1,260 trillion won from 1,570 trillion won.
Meanwhile, LG Group saw the most modest decline among major conglomerates, with its market capitalization slipping 5.3 percent to 180 trillion won from 190 trillion won.
The relative resilience was attributed in part to LG Energy Solution, whose shares have risen 7.3 percent this month on growing expectations for demand for energy storage systems (ESS), fueled by the expansion of AI data center infrastructure in the U.S.
Amid lingering concerns over chipmakers' outlook even as demand for AI-related memory chips remains strong, Samsung Electronics and SK hynix are scheduled to release their third-quarter earnings later this week, with market watchers expecting robust results.
But it remains to be seen whether their earnings will be strong enough to end the recent broad sell-off in the stock market.
Industry watchers estimate that the two chipmakers' combined operating profit will reach around 185 trillion won. Samsung Electronics projected earlier this month that its third-quarter sales would reach 195 trillion won and operating profit 107.4 trillion won in its preliminary earnings report.
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