What happens when a whole- country goes into euphoria .
Korea - the market went up 2.5 times ( similar to us ) after COVId fall .
Whole country went into trading while sitting at home .
Even 12-13 years old kids were trading . Private schools started courses for trading for the kids of grade 5 and above . Marriages were being fixed by showing P & L statements though person did not have any real time job .
Data suggests that about 30% Koreans between the age of 20-35 left their stable jobs to take full-time trading .
Strange fact is that during this period, FIIs sold Korean stocks worth US $ 30 Billion but all selling was absorbed by domestic people .
Last year ,retail investors made up 67% of average daily trading volume on South Korea’s stock-market.
Small investors known as “ants” have borrowed so much money to dabble in stocks that at least half a dozen brokerages have stopped offering them leverage.
Several TV series related to stock market investors have become very popular and are topping the ranks of TRPs.
The upcoming drama “Stock Struck,” aims to reflect the pain and growth of a wider group of investors, according to an official synopsis provided by its producer Studio Dragon.
The plot will focus on how five different investors’ lives are changed by mapping out their own unique ways of investment. A soon-to-be-bride, an English teacher and a convenience store part-timer are among the ordinary people or society underdogs who join forces to understand the market and see growth in both in their investments and personal lives.
Smaller projects have also garnered the interest of local audiences, such as “Stock of High School,” a single-episode drama which aired on July 22 on domestic television network tvN. The main protagonist is a female high school student from a low-income family who starts working as a broker for her wealthy classmates.
Where is Korea now !
Market has corrected 30% from the top ,has gone below pre-covid levels and is still falling .
Mental depression cases have gone 6 fold and annual suicide has gone by 26 per 100000 ( highest in the world )
Lesson : Domestic investors have a limit , they can’t fight global liquidity issues and every bubble ends badly .