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Meme早班车
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《$MOMMY Behind: The Hidden Korean Capital Layout in Movies (3)》
Why are young people in South Korea so enthusiastic about cryptocurrency trading, to the extent that they rush into the crypto world one after another? This is because, amid soaring housing prices and living costs, many feel that it is difficult to achieve an improvement in their lives through regular jobs, and thus believe that trading cryptocurrencies may be the only way out.
Seoul occupies only 0.6% of South Korea’s land area, yet it is home to nearly 20% of the population, with housing prices remaining high. Between 2017 and 2020, the average transaction price of houses skyrocketed from 606 million won to 957 million won, an increase of 56%. In stark contrast, the overall wage level in South Korea is relatively low, and the employment situation is quite severe. Conglomerates such as Samsung, LG, and Hyundai account for 80% of the national GDP, yet the jobs they provide constitute only 5%. Small businesses, while absorbing 88% of the employed population, offer outdated job skills, low pay, and lack stability, making them a choice of last resort for young people.
Moreover, large enterprises in South Korea particularly favor graduates from prestigious universities. According to data from 2000, the number of students from high-income families at Seoul National University is 16.8 times that of students from low-income families. The “Spoon Theory” is widely prevalent in South Korea; after 2000, an average of 42% of the wealth of South Koreans came from inheritance, greatly compressing the space for young people's struggles. In a social survey conducted in 2019, as high as 88.6% of young respondents firmly believed that their parents’ wealth and status would determine their children’s future, making upward social mobility seem almost unattainable. The emergence of cryptocurrencies is like a last straw for them; it seems that only by holding on tightly to it can they hope to afford properties that would otherwise be difficult to reach even after decades of work, thus leading a decent life.
Under the strong promotion and operation of South Korean conglomerate capital, “CryptoMan” is about to take the stage. At that time, not only within South Korea but even in the global crypto community, the figure of #MOMMY will frequently appear. In the period surrounding the film’s release, it is highly likely that a fierce price competition will erupt around MOMMY, plunging everyone into a frenzied gambling state, as if they are caught in a grand carnival. (End)
#Marvin #KEKIUS #Moodeng #Daram
Why are young people in South Korea so enthusiastic about cryptocurrency trading, to the extent that they rush into the crypto world one after another? This is because, amid soaring housing prices and living costs, many feel that it is difficult to achieve an improvement in their lives through regular jobs, and thus believe that trading cryptocurrencies may be the only way out.
Seoul occupies only 0.6% of South Korea’s land area, yet it is home to nearly 20% of the population, with housing prices remaining high. Between 2017 and 2020, the average transaction price of houses skyrocketed from 606 million won to 957 million won, an increase of 56%. In stark contrast, the overall wage level in South Korea is relatively low, and the employment situation is quite severe. Conglomerates such as Samsung, LG, and Hyundai account for 80% of the national GDP, yet the jobs they provide constitute only 5%. Small businesses, while absorbing 88% of the employed population, offer outdated job skills, low pay, and lack stability, making them a choice of last resort for young people.
Moreover, large enterprises in South Korea particularly favor graduates from prestigious universities. According to data from 2000, the number of students from high-income families at Seoul National University is 16.8 times that of students from low-income families. The “Spoon Theory” is widely prevalent in South Korea; after 2000, an average of 42% of the wealth of South Koreans came from inheritance, greatly compressing the space for young people's struggles. In a social survey conducted in 2019, as high as 88.6% of young respondents firmly believed that their parents’ wealth and status would determine their children’s future, making upward social mobility seem almost unattainable. The emergence of cryptocurrencies is like a last straw for them; it seems that only by holding on tightly to it can they hope to afford properties that would otherwise be difficult to reach even after decades of work, thus leading a decent life.
Under the strong promotion and operation of South Korean conglomerate capital, “CryptoMan” is about to take the stage. At that time, not only within South Korea but even in the global crypto community, the figure of #MOMMY will frequently appear. In the period surrounding the film’s release, it is highly likely that a fierce price competition will erupt around MOMMY, plunging everyone into a frenzied gambling state, as if they are caught in a grand carnival. (End)
#Marvin #KEKIUS #Moodeng #Daram
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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