Korean stocks plunged 2.05 percent late Wednesday morning as fears sparked by Britain's decision to leave the European Union spooked investors again, while some sought to cash in part of recent gains.

The benchmark Korea Composite Stock Price Index plunged 40.89 points to 1,948.96 as of 11:20 a.m.

Foreigners appeared to be exiting the local market with a fervor, dumping 236.9 billion won ($202.7 million) worth of local stocks. The decline also followed overnight losses on Wall Street.

The Dow Jones industrial average lost 0.61 percent to 17,840.62 points on Tuesday, with the tech-heavy Nasdaq also shedding 0.82 percent to 4,822.90 points.

Most large caps were in negative terrain, with market bellwether Samsung Electronics plunging 3.13 percent. Top automaker Hyundai Motor tumbled 3.70 percent, with global chipmaker SK hynix losing 4.24 percent.

Automaker parts giant Hyundai Mobis plunged 2.55 percent, while top steelmaker POSCO also lost 3.86 percent.

The local currency was trading at 1,167.75 won against the U.S. dollar, plunging 12.35 won from Tuesday's close and extending a streak of depreciation to four consecutive sessions. (Yonhap)