What kind of country is Korea?

South Korea has become a country where stocks are traded by the whole people. From senior government officials to primary school students, they are all trading stocks.

On September 28th, when KOSPI hit a record low in two years and two months, the South Korean government took the lead in coming forward and officially announced the rescue. On the same day, the Korea Financial Committee said that in order to stabilize the financial market, it will prepare to restart the stock market stabilization fund. Now, this fund has been mentioned again, which means that the rescue operation in South Korea has officially begun. At the same time, South Korea's Ministry of Finance continued to buy back Korean government bonds and studied plans to ban short selling.

Why does a good country fall into the absurd reality that all people are crazy about stock trading? This is not unrelated to the "tolerance" of the Korean regulatory market.

Unlike China, minors are not allowed to open stock accounts. In Korea, there is no age limit for stock trading. Minors may open an account for stock trading with the consent of their parents or legal representatives. Moreover, South Korea's loan interest rate is low and loans are easy, which gives a large number of young Koreans the opportunity to borrow money for stock trading.

In addition to the "connivance" of supervision, people have different attitudes towards the stock market. In China, signs like "The market is risky, so be cautious in stock trading" can be seen everywhere. China people's general understanding of the stock market is "high risk and easy to avoid", but South Korea is different. Koreans have a positive attitude towards the stock market, and even parents let their children trade stocks at an early age for the purpose of educating financial businessmen.

For many Korean parents, a child's college degree is no longer so important. Even if they have a bachelor's degree, their employment opportunities are not necessarily better. Instead of focusing on learning, it is better to let children get in touch with business from an early age and pave the way for entering the society in the future. It is more practical.

In the subconscious of many Koreans, stock trading is even more important than work. Putting money into the stock market even has a sense of security of "long-term savings". They think this is an asset investment, but the rate of return has doubled until they see someone making a lot of money, and their mentality has changed directly. They are too hasty in making money in the stock market, lack the initial intention of making long-term investment and self-improvement, and eventually become speculators.

In fact, behind the crazy stock trading of Koreans, the personal promotion channels in South Korea are getting narrower and narrower. 99% of ordinary people seem to have only stocks left in order to counterattack. When I was a student, ordinary people participated more and more. The college entrance examination is regarded as "a great opportunity to create or destroy the future". However, among the 80% students who successfully enter higher education every year, less than 2% can enter the top universities in Korea through the college entrance examination.

The pressure of involution in South Korea has led people to become increasingly desperate for academic qualifications and job returns: too much competition pressure, but not high returns. The growth path of ordinary people tends to be stagnant, and it has touched some invisible ceiling, which is difficult to be broken in the short term.