UNDERMINING BRAND KOREA?
The breathtaking rally has been powered by a staggering 300 per cent surge in the stock market’s earnings growth over the past year, led by gains for the memory stocks, and has made up for decades of measly single-digit returns. Koreans saw their stock market wealth shoot up from US$1.5 trillion to US$5 trillion, gaining more in 18 months than they had in a lifetime.
Their enthusiasm for trading is on equally vivid display in global markets. Cryptocurrencies often sell in Seoul at what’s known as the “kimchi premium,” owing to intense demand from locals. When crypto prices surged in 2024, trading volume was actually…
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