Koreans' stock investment losses hurt consumption
Seo Hyun-mi has shelved her year-end trip to Tokyo after suffering heavy losses on her stock investments. The 40-year-old office worker, who bought SK hynix shares months ago at around 2.5 million won ($1,881) per share, is now sitting on a loss of roughly 50 percent. "Everyone seemed to be encouraging people to buy stocks. Brokerage reports were overwhelmingly positive, government officials were…
Koreans are experiencing a decline in consumption due to significant stock market losses. Seo Hyun-mi, a 40-year-old office worker, is one of many who has suffered heavy losses, now facing a 50 percent loss on her SK hynix investments. Despite widespread encouragement to invest, Seo decided to withdraw from the market, citing an unlikely quick recovery.
To cope with the loss, she plans to cut spending for the foreseeable future. The belt-tightening trend has extended to social media, where users share tongue-in-cheek money-saving tips like deleting food delivery apps and washing clothes by hand. The financial strain has become a prevalent topic on social media, as people share their strategies to survive the market downturn.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Koreans' stock investment losses hurt consumption koreatimes.co.kr
