Seoul - Shares crashed Thursday on the Seoul stock exchange on panic selling after recession fears caused the US market to plunge to five-year-lows.

South Korea's currency slid to a 10-year-low against the dollar.

The benchmark Kospi index fell 68.13 points, or 6.7 per cent, to close at 948.69.

Declining issues outnumbered advancers 791 to 66.

The main index of the technology-heavy Kosdaq market tumbled 24.35 points to 273.06.

On currency markets, the US dollar was quoted at 1,497.0 Korean won, down 50.50 won from Wednesday's close of 1,446.50 won. (dpa)