Koreans' stock investment losses hurt consumption

Seo Hyun-mi shelved her year-end trip to Tokyo after losing roughly 50 percent on SK hynix shares bought months earlier. Korean households invested 101.6 trillion won in stocks and investment funds in the second quarter, but falling share prices have tied up much of that money. The losses are prompting consumers to cut spending, threatening further weakness for restaurants, retailers, hiring and investment.

Households and nonprofit organizations invested 101.6 trillion won in stocks and investment funds in the second quarter, up from 61.4 trillion won in the first quarter.

The KOSPI fell from 9,385.59 on June 19 to 5,262.77 on July 29, later rebounded above 7,000 and then closed at 5,554.22 after seven consecutive losing sessions.

Retail sales increased 0.1 percent in May and 2.7 percent in June before declining 2.6 percent in July and 1.8 percent in August.

Investors who borrowed money to buy stocks could face forced selling as share prices fall, potentially worsening losses and reducing their spending capacity.

Kang Sung-jin said young people are particularly vulnerable to falling incomes and shrinking job opportunities, making policies to support them more important.

Published Oct 19, 2026 3:15 pm KST

People shop in Myeongdong, Seoul, Sept. 13. Yonhap

Seo Hyun-mi has shelved her year-end trip to Tokyo after suffering heavy losses on her stock investments. The 40-year-old office worker, who bought SK hynix shares months ago at around 2.5 million won ($1,881) per share, is now sitting on a loss of roughly 50 percent.

"Everyone seemed to be encouraging people to buy stocks. Brokerage reports were overwhelmingly positive, government officials were urging people to invest in the stock market and media coverage of memory chips was upbeat as well," Seo said, explaining what prompted her to invest.

With the stock market unlikely to recover quickly, Seo plans to cut spending for the foreseeable future.

"You need cash on hand to weather this kind of market, whether it's to cover losses from selling stocks or to buy more shares at lower prices," she said.

The belt-tightening mood has spread to social media.

An image titled "Things stock investors should start doing today" has been circulating online with tongue-in-cheek money-saving tips, from deleting food delivery apps and washing clothes by hand to looking for loose change on the street.

Household funds poured into stocks in the first half of the year, fueled by the artificial intelligence stock rally and the government's push to shift investment from real estate to equities.

According to the Bank of Korea, households and nonprofit organizations invested 101.6 trillion won in stocks and investment funds in the second quarter, up from 61.4 trillion won in the first — a jump of more than 40 trillion won.

But much of that money is now tied up in stocks that have tumbled in the second half of the year.

KOSPI plunged from 9,385.59 on June 19 to 5,262.77 on July 29 before rebounding above 7,000. The benchmark encountered another setback last week, sliding for seven straight sessions to close at 5,554.22 on Thursday.

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"Korea's economy is becoming increasingly polarized, and domestic consumption has already been weak," said Jeong Se-eun, an economics professor at Chungnam National University. "A stock market downturn could put further pressure on consumer spending."

Retail sales are already showing signs of weakness. According to the Ministry of Data and Statistics, retail sales rose 0.1 percent in May and 2.7 percent in June before falling 2.6 percent in July and another 1.8 percent in August.

Investors who borrowed money to buy stocks are particularly vulnerable, Jeong said, as falling share prices could trigger forced selling and compound their losses, leaving them with even less money to spend.

That risks setting off a vicious cycle.

Businesses reliant on domestic demand, such as restaurants and retailers, could see sales fall as consumers cut back on spending. Persistent weakness could prompt businesses to curb hiring and investment, putting further pressure on household incomes and consumption.

"Young people are particularly hard hit by falling incomes and shrinking job opportunities, making policies to support them all the more important," said Kang Sung-jin, an economics professor at Korea University and president of the Korean Economic Association.

徐贤美因几个月前买入的SK海力​​士股票亏损近50%，取消了原定的东京年末旅行计划。韩国家庭第二季度在股票和投资基金上的投资额高达101.6万亿韩元，但股价下跌导致大部分资金被套牢。亏损促使消费者削减开支，这可能导致餐饮、零售、招聘和投资进一步疲软。

第二季度，家庭和非营利组织在股票和投资基金上的投资额为101.6万亿韩元，高于第一季度的61.4万亿韩元。

韩国综合股价指数（KOSPI）从 6 月 19 日的 9,385.59 点跌至 7 月 29 日的 5,262.77 点，之后反弹至 7,000 点以上，但在连续七个交易日下跌后，最终收于 5,554.22 点。

零售额5月份增长0.1%，6月份增长2.7%，7月份下降2.6%，8月份下降1.8%。

借钱买股票的投资者可能会面临被迫抛售，因为股价会下跌，这可能会加剧损失并降低他们的购买力。

康成镇表示，年轻人尤其容易受到收入下降和就业机会减少的影响，因此支持他们的政策更加重要。

发布于2026年10月19日下午3:15（韩国标准时间）

9月13日，人们在首尔明洞购物。（韩联社）

徐贤美（音译）因股票投资遭受重创，取消了年底的东京之旅。这位40岁的上班族几个月前以每股约250万韩元（约合1881美元）的价格买入了SK海力士的股票，如今亏损已达约50%。

“似乎每个人都在鼓励人们购买股票。券商的报告几乎全是乐观的，政府官员敦促人们投资股市，媒体对内存芯片的报道也很乐观，”徐女士解释了促使她投资的原因。

由于股市不太可能迅速复苏，徐计划在可预见的未来削减开支。

“你需要手头有现金来应对这种市场行情，无论是为了弥补卖出股票的损失，还是为了以更低的价格买入更多股票，”她说。

勒紧裤腰带的氛围已经蔓延到社交媒体上。

一张题为“股票投资者今天应该开始做的事情”的图片在网上流传，其中包含一些略带讽刺意味的省钱小贴士，例如删除外卖应用程序、手洗衣服以及在街上寻找零钱。

今年上半年，受人工智能股票上涨和政府推动投资从房地产转向股票的政策刺激，大量家庭资金涌入股市。

据韩国银行统计，第二季度韩国家庭和非营利组织在股票和投资基金上的投资额为101.6万亿韩元，高于第一季度的61.4万亿韩元，增幅超过40万亿韩元。

但这些资金大多都投资于今年下半年大幅下跌的股票。

韩国综合股价指数（KOSPI）从6月19日的9385.59点暴跌至7月29日的5262.77点，之后反弹至7000点以上。上周，该基准指数再次遭遇挫折，连续七个交易日下跌，周四收于5554.22点。

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韩国综合股价指数（KOSPI）10月份暴跌的最大问题是：无人逢低买入。

“韩国经济两极分化日益严重，国内消费本已疲软，”忠南国立大学经济学教授郑世恩表示，“股市下跌可能会进一步抑制消费支出。”

零售销售已显露疲软迹象。据国家统计局数据显示，5月份零售销售额增长0.1%，6月份增长2.7%，但7月份下降2.6%，8月份又下降1.8%。

郑先生表示，借钱买股票的投资者尤其容易受到伤害，因为股价下跌可能会引发强制抛售，加剧他们的损失，使他们可用于消费的资金更少。

这可能会引发恶性循环。

依赖国内需求的行业，例如餐饮和零售业，可能会因消费者削减开支而面临销售额下滑。持续疲软的经济形势可能促使企业缩减招聘和投资规模，从而进一步加剧家庭收入和消费压力。

“年轻人尤其受到收入下降和就业机会减少的严重影响，因此，支持他们的政策就显得更加重要，”韩国高丽大学经济学教授、韩国经济协会会长姜成镇表示。