Asahi Shimbun “‘Donghak ants’ lead the KOSPI boom”
“Young employees run to the bathroom at 9am.”
“If the bubble bursts, the damage to the young people will be great”
An article on the Japanese media’Asahi Shimbun’ posted on the 9th (local time). It reported in detail about the Korean stock craze and the birth of new words such as’Donghak ant’. / Photo = Internet homepage capture
[아시아경제 임주형 기자] The Japanese media’Asahi Shimbun’ recently reported in detail about the Korean stock investment craze. However, the media said that Korea’s investment craze has a similar aspect to the’bubble economy’ that caused Japan’s overheated economy in the past, and expressed concern that young investors could suffer great damage when the adjustment period comes.
The Asahi Shimbun said on the 9th (local time) “Korea’s stock price recorded the highest rate of increase among the 20 major countries among the 20 major countries among the Corona 19 disaster,” and said, “The protagonists of the boom are young investors called the new term known as’Donghak ants’.” .
This newspaper explained in detail the facts and background of the Korean stock investment craze. The media also cited the case of A (28), a male worker working at an electronic component company.
A is reported to be looking for information on companies to invest while pretending to check work-related emails on his computer while working.
Mr. A said to Asahi that “everyone is doing it to avoid the boss’s eyes.” It is explained that it is a reality that it is impossible to pay not only apartments but also children’s education expenses with a small salary, so it has no choice but to invest in stocks.
Employees are working at Hana Bank in Myeong-dong, Seoul on the 9th. / Photo = Yonhap News
He added, “In the era of low interest rates, saving is also meaningless,” he said. “I started investing in stocks in January of last year and made a profit of 8 million won over the past year.”
Asahi explained that not only small and medium-sized employees, but also young people who worked at chaebol companies after going through renowned universities in Seoul are enthusiastic about stock investment. The newspaper said, “When stock trading begins at 9 am, the phenomenon of young employees jumping into the bathroom was covered in the media.”
However, Asahi pointed out that the Korean stock market cannot be viewed as reflecting the real economy.
The newspaper reported that the economic growth rate of Korea last year recorded -1%, which not only reversed, but also that the Bank of Korea governor Joo-yeol Lee said at the New Year’s Meeting in the financial industry that “a potential threat is expected to appear in earnest this year.”
He also pointed out that the current situation in Korea resembles the so-called’bubble economy’ of Japan in the 1980s.
“The current situation in Korea resembles Japan in the 1980s, when the bubble economy peaked,” citing Yonsei University professor Yang Jun-mo, the newspaper said. “If the bubble bursts someday, the damage to the young people will be particularly great.”
Reporter Lim Joo-hyung [email protected]