Korea’s financial regulators are reviewing whether to allow leveraged exchange-traded funds (ETFs) tied to individual stocks such as Samsung Electronics and SK hynix, as authorities seek to stem capital outflows and ease pressure on the won.
The government will introduce a temporary tax incentive for retail investors who sell overseas stocks this year and reinvest the proceeds in domestic assets, the Ministry of Economy and Finance said Tuesday.
A 41-year-old skincare specialist who started investing in stocks early last year lost millions of won after she joined an online paid chat room that claims to provide exclusive information on the stock market.
Like Yoo, many retail investors are busy profit-taking from stock selling as Seoul's benchmark Kospi index continues to move up and down between 3,000 and 3,200.
The fear of missing out (FOMO) is the latest epidemic to hit Korea, as stocks hit new highs and housing prices soar.
Koreans in their 20s and 30s are pouring millions of won into both domestic and foreign stocks to manage their money, which they see as the most reliable return on investment (ROI) in the face of economic uncertainty wrought by the pandemic.
Korea JoongAng Daily Sitemap
