Thursday, September 29, 2022

Youth Of South Korea Turning Towards Crypto Trading As An Alternative For Creating Wealth

Many of the young working South Koreans have started quitting their jobs, as they generated their interest in cryptos. The youth of Korea are now opting for crypto investment to generate wealth in greater numbers. 

One of the local news outlets in the country, The Chosun Ilbo, on April 27 published a report, notifying that in South Korea, people from the age group 20-30 are quitting their jobs to explore crypto trading. These people dream big, they do not want to remain or be poor and want enough wealth to buy themselves a house.

The experts believe that those young people, who are leaving their jobs, are attracted by the price of cryptos, which has been increasing continuously.

One of the employees told The Chosun Ilbo, “I face the reality of being unable to afford my own home no matter how hard I save up my salary. There is no other way than cryptocurrency investments for me to accumulate wealth.”

However, crypto trading has become a big problem for businesses in South Korea, as they have lost many of their employees to this. Some of the companies in the country are now planning to block the crypto trading websites on their network, as most of the time, their employees, keep checking the price fluctuation.

According to the report, the IT industry is facing more employers crunch. Once these professionals earn a healthy profit from their investment, they quit their jobs.

Recently, Hang Jung-soo, one of the crypto traders, became a millionaire through trading. The person now owns more than $2.6 million, which he earned through trading. As soon as he earned the profit, he left his three-years-old job.

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