Using transform: scale and preserving border-radius
HTML
<div class="container"></div>
CSS
*, *::before, *::after {
box-sizing: border-box;
}
.container {
position: relative;
width: 500px;
height: 500px;
margin: 5rem auto 0;
border: 1px solid red;
}
.container::before {
content: "";
position: absolute;
left: 1rem;
right: -1rem;
top: 7rem;
bottom: 1rem;
background: firebrick;
border-radius: calc(2rem / 0.3) / calc(2rem / 2);
transform: scale(0.3, 2);
}