● Unhappy, Rich Koreans – Unique Traits
The Psychology of Wealth in South Korea: Between Reality and Ideal
1. Koreans’ Desire for Wealth and Historical Context
The thirst for wealth among Koreans, which began in times of poverty, has a significant impact on the current economy.
The hardships of the Japanese colonial period, war, and industrialization remain, leading to the current ‘illusion of effort.’
Due to past memories of poverty, there is a feeling that money is necessary for happiness and to ensure family and health.
This is reflected in the overall investment strategies of the global economy and financial markets, making everyone dream of wealth, which is a historical foundation.
2. Upward Comparison Culture and Relative Deprivation
Koreans evaluate their wealth and success by comparing themselves with others.
As the standard of comparison rises, dissatisfaction and relative deprivation increase as a result.
Stress accumulates in the idea that one is inferior to others, simultaneously with self-awareness based on subjectivity.
In terms of market trends and economic analysis, these psychological factors also influence consumption and investment behavior.
3. Investment Behavior and Gambling Tendencies
Koreans’ investment tendencies sometimes contain gambling elements.
Unrealistic optimism acts to take on risky investments.
Investment criteria through comparison are preferred over absolute figures such as annual salary, real estate, and stocks.
This tendency is also noticeable in the modern financial market and should be noted when establishing investment strategies.
4. Self-Worth and Realistic vs. Ideal Self
Self-objectification and self-esteem are important factors in determining individual success.
Efforts are needed to reduce the gap between the realistic self and the ideal self.
Confidence can become vulnerable when it leans toward unfounded confidence.
Appropriately managing self-worth and rational consumption culture can have a positive impact on the overall economy.
5. Find Motivation for Overcoming from Past Pain
The emotion of ‘Han’ acts as a motivation for overcoming, not just a simple negativity.
As a result of working hard to resolve the ‘Han’ from past difficulties, the current advanced development has been achieved.
This psychological energy is an important factor in boosting economic growth and the vitality of the global economy.
When considering economic analysis and market trends, Koreans’ unique effort and comparison culture act as a driving force for continuous changes in investment strategies.
Koreans’ desire for wealth stems from past memories of poverty, leading to high standards of comparison and relative deprivation.
These psychological and gambling investment tendencies, and the gap between the realistic and ideal self, have a significant impact on economic analysis, financial markets, and investment strategy establishment.
‘Han,’ which seeks to overcome past difficulties, is one of the axes of global economic vitality today.
It is necessary to look at reality objectively and make rational consumption and investment decisions.
Subjective self-awareness is a key factor in changing market trends.
keywords: global economy, financial market, investment strategy, economic analysis, market trends
*YouTube Source: [와이스트릿 – 지식과 자산의 복리효과]
– “비교 불가” 부자가 되어도 불행한 한국인, 이런 특성 때문입니다 / 한민 교수 (풀버전)
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