Seoul - Shares plunged Tuesday on the Seoul stock exchange on concerns over the economy despite a government stabilization package worth 130 billion dollars to prop up the troubled financial market. South Korea's currency dropped against the US dollar.

The benchmark Kospi index fell 11.53 points, or 1 per cent, to close at 1,196.1.

Declining issues outnumbered advancers 496 to 325.

The main index of the technology-heavy Kosdaq market declined 2.12 points to 350.97.

On currency markets, the US dollar was quoted at 1,320.10 Korean won, after trading at 1,315.0 won on Monday. (dpa)