South Korea's tech-heavy KOSDAQ market plummeted over 13 percent on Friday morning, slipping below the 500 mark.

As of 11:06 a.m., the KOSDAQ index fell to 489-point-12, shedding 74-point-37 points or 13-point-20 percent from the previous close. 

The country's secondary market fell over eight percent minutes after opening, leading to a 20-minute circuit breaker.