Korea's FOMO power and stock investing

Korean Confucianism emphasizes moral responsibility, diligence, and a strong work ethic as the foundation of social cohesion. Within this framework, gambling is viewed as unearned wealth, which goes against the collective values of Korean society and is considered shameful for individuals. In contrast, the West generally views gambling as a matter of personal freedom and leisure.

As a result, the Korean government maintains a strict ban on legal gambling, leaving limited avenues for Korean citizens to engage in the activity. The public stigma surrounding gambling in Korea is the primary reason for its limited growth, as the culture is heavily scrutinized and disciplined by societal norms. The question remains whether this social stigma deters individuals from gambling or actually fuels the pent-up demand for an outlet.

This situation is reminiscent of the U.S. during the Prohibition era in the 1930s, when the government banned alcohol outright. The result was increased illegal drinking and the growth of organized crime due to the government's inability to regulate alcohol consumption.