"Everyone will become poor" said by some experts, Why? | Undercover Korea
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- Опубликовано: 22 авг 2023
- Now that the pandemic is over, the economy has taken a turn for the worse. As economic indicators deteriorate, we take an in-depth look at what jobs and life are like for real people in South Korea. We captured the reality of how Koreans make a living without fantasizing.
All copyrights to this video belong to KBS.
KBS is a public broadcasting service in South Korea.
air date : Jan, 2023
#economiccrisis #koreajobs #documentary #economicdevelopment 
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it's like that ultimate irony. working to support your family but never getting to spend time with them because you have to work.
Yep. Or not being able to afford to start a family in the first place.
For a country that prided themselves as family-based and put so much emphasis on family values and bloodlines, their over the top working hours are a big irony and contradict themselves.
@@wanr5701 Same for Japan I guess.
Even for india
@@CoralTheMihn this, our grandpa can let grandma be a full housewife and have multiple child, send them all to college while still have a big house and best car. Nowaday people both husband and wife could work and still not enough to buy a house letalone have a child
This is what real reporting looks like, people. this is very, very sad but also one of the best-made documentaries I've seen on RUclips.
I know, right? 😁🥳. The absolute reason I keep loving K.DOC 🥰
its weird watching this because the US is having very similar difficulties.
Actually this was done by Korean Broadcast System TV. Used of S.Korea government television.
These are good, hard working citizens and family oriented people. I salute them for their endurance and focus.
Not just Korea but I see this happening in America and all over the world too.
This is all because of the Usurious and Interest based financial system around the world. This will get worse
It's a reset. It's natural, happened in 2009. It's just about time to happen again
@@Gbaby_1241Yup history is repeating itself sadly.
Ha! It's far worse in the USA! Tons of homeless people, companies won't hire you unless you have a car so that's another HUGE expense, imagine all the difficulties these people on this are dealing with but also with tons of homeless/mentally ill on the streets, tons of crime, tons of drug use because in the US all drugs and I do mean all of them, are legal at the user level.
You guys know why is that the case all over the world because poor people can be easily controlled rather than rich people. That's why all governments are trying to brain wash their citizens from schools to universities to be miserable and poor.
The financial elite has created this situation and are making huge profits off people.
Antes pensaba que el modelo en el que vivimos fue siempre asi, hasta que vi el video de un profesor de historia hablando de los "enclousers". Habla de como el sistema capitalista fue impuesto a la fuerza, privatizaron las tierras de las comunidades(Inglaterra), algunos quedan trabajando las tierras por un sueldo (aparece el salario) y otros tienen que moverse a las grandes urbes (que no fue un proceso tan natural sino forzoso). Lo que ayudo a expandirlo globalmente fue la coincidencia de descucbrir América entre otras cosas. Al final este sistema (un sistema que tiene unos 500 años) que vive de la sobrexplotación de recursos naturales y consumo excesivo tiene fin, va a ser jodido para todos ese día.
It's easy to assume there's some well-oiled, well-run machine, even if it's evil, running things but the truth is the financial elite often have no idea what the hell's going on, themselves.
....earth misery are all part of 1% elite banking plan
The concert, sport, shopping just keep the masses forget....
Bingo! You win! Take your weapon and build a new order!)
Brutality like this are why birth rates deserve to fall. No one deserves to be brought into such an unjust society nor do unjust societies deserve new life.
Hell yeah, hope you’re not having any kids.
@@marydoe8961 , I have no children and I plan to keep it that way
@@ishmamahmed9306 Lol you act proud of it. You will deeply regret that once you d1e alone with no one to look after you.
@@ishmamahmed9306But mahumad had 10 children's masallah brother don't let your imam down.
@@GIGADEV690 , good for him. What was good for him in the 7th century in the Hijaz is not good for all of humanity for all of time.
Having children knowing that they will struggle is not something I can do in good conscience.
God would prefer if all religious people used their God-given brains, not just pop out children "because that is how things have always been".
In France, the inflation on food supplies and on energy bills are increasing and some people hardly can have two meal. the mega rich will reamain wealthy and the other part of the common people will almost starve despite their hard work, it seems to be their aim: make money at all cost.. Heartbreaking for us commoners and hard working people whom only want to live decent life.
Thank you for your honesty. Thank you for the English translations
For some people it may be necessary to move back into villages and have community farms/gardens and just take of each other rather than competing over a few jobs that don't pay that well. That goes for us in the USA too not just Koreans and other people struggling with these artificially created crisises right now.
You are right. What exactly are people working so hard for anyway? You are working to have a house, food, and access to medicine when you need it. We as a society have more than enough technology to enable people to work less and enjoy life more but mankind does not care, especially the ones at the top that value money, control, and power, over all things.
Urban farming in Detroit, bruh.
People are just slaves to the system. So how do you "break" the system?
@@shadowblitzo123 we have to sacrifice certain comforts that we THINK we need. That may look a little different for some people. Maybe it's more of a transition. Some people leave their homes behind and go work seasonal work or contract work and only work a few months a year and spend the other time traveling or just minding their business somewhere very low cost of living. It's up to you. Find your way out. The path out is not the same for everyone because we all have access to different things.
@@biashacker exactly.
and the SK government wonders why so many don't want to become parents
More and more wealth is concentrated in a small number of the population.
Especially during the pandemic, we had the biggest wealth transfer ever in economic history.
This development will continue.
If people think, societies collapsing is something you only see in history books, think again.
Its sad to see how the world has turned out. Crime is high. Inflation is high. Peoples mental health is getting worse. Society is crumbling. Its a fragile existence.
Lol modern societies don't collapse because food security is guaranteed. Revolutions happen instead, but society itself doesn't collapse.
When the top 1% hold over 25% of entire economic wealth things get ugly real fast.
stop working for them start new system. system is fucked up. we need new system where there should be no labour only self employed . earn per your work don't work for other . like stop online delivery and start retail shop and people also buy for retailer not from online giants who accumulate wealth
@programmersdiary6859 how can we start the new system when the governments and elites have more power and authority
@@programmersdiary6859easy to do if you don't have family to feed.
Sadly these people doesn't even have the time or money to challenge the system since most of them need to feed their family.
the world need a rich man depression to reset. So everyone start at same level again. No more Greed or speculation.
Could sth be done if we collectively boycotted them big bois one by one over months where we can? Or whoever has relations to them? Doesnt have to result in their bankruptcy. But to give them a motivator to negotiate the power inbalance ruining this world. Would boycotting them one by one work or intimate them and others enough to change the way they operate?
I wonder cuz ppl say boycotts dont work. And that is usually the case cuz ppl have a hard time boycotting several at the same time. But what if we got organized and all started to boycott the same bad guy til he/she loses all that power? After that one, we move on to the next. And so on. Would that help our situation or am i being naive lol?
I am askin cuz we gave em that power. Therefore, there must be a way to turn it back, no?
I live in Argentina, the inflation they talk about made me smile, unfortunately I'm used to worse things. I've already experienced two hyperinflations and I think we're going for a third (I hope I'm wrong). All the work of the people, all the sacrifice some few capitalize on it while leaving the majority without dreams. This way of life is very unfair and inhumane.
Exactly. If you trace every major industry back to its roots, people of the world generally work for a few rich families or rich individuals. This world is one giant plantation.
I agree with you life is very unfair and inhumane.... situation is similar across the world in some places it is more in others it is less but the basic thing that is common is, the majority of us are struggling to core... its unfair world
It's not the same.
People in Argentina doesn't go into a variable interest rate debt.
They usually pay the prices high up front, and keep a fix interest rate.
When you are a salary person indebted in countries WITH REAL ECONOMIES (not like argentina), when interest rates go up you're in BIG BIG TROUBLE.
A 2% difference in interest rates can mean a 500-1000 us$ difference in payments for a small home.
And that in a context where the price of living is rising too.
Another big difference with REAL COUNTRIES, is that in argentina they have extorsive and criminal UNIONS. They will increase the salary of the people of specific sectors to go with inflation.
That doesn't happen in real countries. The pay is what it is. Real wages go down.
@@FellTheSkyMy Argentina is a REAL COUNTRY with REAL PEOPLE with a REAL ECONOMY. Your answer is very disrespectful
@@FellTheSkythey will increase the salary to follow the inflation? Hahaha 🤣😂
Forget the hours even getting accepted for a job at this time is insanely difficult it makes all the work and papers you've earned for granted
There's so many jobs open. They are just the jobs that they people want to do. People may not wanna hear this because they have been brainwashed to attend university but someone has to scrub toilets and weld joints at the end of the day. If people can't find jobs they should go do those jobs.
@@amsd1231exactly. People should do anything as long they can survive
@@amsd1231in my country,people are all fighting for a job,even scrubbing toilets just to make ends meet...so finding jobs even the lowest ones are so difficult nowadays here
@@amsd1231but how much are those jobs paying
@@inezamy9523 welder at the docks? over 100k easily.
It just feels like the whole world is heading into this perfect storm and even if we make it out it will never be the same again - looking back covid now seems like it was just a teaser, this unknown we're sailing into feels much much worse...
Well if by design or incompetence "illustrious" leaders blown economies and supply chains word wide and top of that thrown trillions of money they dont have on problem. Now we have, debt, inflation, recession and still damaged economies and supply chains. Only option out is wait and be drowned in debt and recession/depression or go for world debt jubilee. Debt is unpayable and is dragging every person and country down to hell.
@@Pedgo1986china)Russia sticking it to the west. First pandemic the war.
@@BobbsVegine-eg3xz more like china/america (remember dr fauci)...betray eachother and the result is disastrous and decoupling of china and america business connection
Job getting less and living expenses increasing making life much harder not only in Korea but around the world.
Everyone is struggling, salaries doesn't raise up but living cost are extremely high. There is time when i am so jealous with rich people, but then i decided to made it by hardwork and yeah reality always hit me hard
On the bright side, at least we die
I had a great uncle who was told by a Jewish gentleman when he, the great uncle, was a young man, which means in the late 1930' or so, that a time will come when there will be only two types of people in America- the rich and the poor.
It's coming to pass and it's definitely a universal truth.
No wonder the birthrate is the lowest in the world...takes the saying 'wage slave' to another level. I can understand this type of working environment for a few years that leads to a massive payoff but if the payoff is nearly non-existent then the society is a hellscape.
US stick their noses into Korea during Cold War, as usual, had destroyed a culture & a people, both in North & South.
Seems now that the pandemic has ended, everyone has started hopping back in their cars to go to the wage cage every morning. Everything is extremely hectic now. It's having a negative effect on everyone's mental health. We're seeing more and more people completely fly off the hinges. I've never seen such mass neurosis. This way of life is unnatural and unsustainable. If something doesn't change, total civilisational collapse will be inevitable.
Check out the theory of the "4th turning". It may give you hope. It pretty much talks about the cyclical nature of humanity.
Collapse is the only way to override the world order.
Yes ever read the Rise and Fall of Civilization? Its a pattern for us humans we are now in the fall part to our Civ.
And ai says hi
It's exactly the same way in US. A tee shirt for $80, a takeout meal $20. A bedroom rent $2200. Inflation is killing ppl yet we have no power to make any differences except for those who earns the top 1%.
Please vote your senile vvarmonger president out next year.
My rent is $2100 for one bedroom with 670 sq. ft. and this is considered cheap where I live. I can't afford to live close from my work so I have to drive far away from the city. It takes me over 3hrs. each way. My dream of purchasing house for myself and hopefully get married is out of reach. This is reality
@@lofiguy8136That's messed up.
@@lofiguy8136 I would rather sleep in the car somewhere in the city instead of drive 3 hours to work, We would spent our life energy on the road if we commute for hours to work place😅
@@lofiguy81366 hours a day for a job you probably don’t love is crazy man. I feel your pain though
Gig work or per piece work has been paying drivers shopper's and deliver people less and less while they pay the office and ceo more and more. It's disgusting. There NEEDS NEEDS to be legislation in place to protect us, I also work in gig industry, these lawmakers NEED to open thier eyes..
Absolutely! I hope you live in CA bc the 15$ minimum really helps. But it's not even enough
I really hate this country. Most evil and depraved "developed" nation the world has ever seen.
Lawmakers only open their eyes when they see their donors
Tl;dr: I made terrible educational and financial choices when I was younger, and now have no leverage in the labor market. Won't the government save me?
@@tombaily29 You people are like maggots. For a group that loves to bootlick all the time, you all seem to have inordinate amounts of time on the computer. Strange.
@@tombaily29 I'm a top 10 uni graduate and work on contract with no benefits, PTO, healthcare, etc. along with half the ppl in my company.
Has nothing to do with educational choices.
Many live in poverty in Korea but because kdramas are so popular, and show unrealistic lifestyles, people around the world think all Koreans are well off financially, causing an immigration hike. The number of foreigners living in Korea has exploded in numbers, many from Eastern Europe, Russia, and the Middle East. But Korea can hardly take care of their own people.
Wait so are you telling me these got "fooled" by TV shows ooooorrr they actually just wanted to move there and experience a new country 🤔
but there’s also the issue of the falling birthrate..without immigrants the amount of people in the workforce will fall dramatically and then the country is fucked
It doesn't matter how rich the country is every country in this world has rich people and poor people. Not just south korea. If someone thinks that everyone in any country is rich he is imbecile or delusional.
@@Rose-cb5cu Living in poverty means struggling - struggling to pay bills, rent, etc because you don't earn a living wage. Subsistence level. Geesh
@@Rose-cb5cu Ever hear of Goshiwon in Korea??
I think the whole world is struggling but there is something different in Peru ... we struggle but we are not unhappy because we have quite clear that any path isn't full of roses and even if it is... roses have thorns so, let's not romanticized the drama in struggling, all of us went through it ... you just learn to walk step by step, get better, save money, and keep going on while you enjoy it. In 1983 we went through the worst inflation for my country like 200% even more than Argentina has now, less than Venezuela, I remember well we couldn't eat meat but we learnt how to make tofu, and soja meat and we started eating more beans and quinoa... we started learning about how to feed ourselfs correctly with less money. How my mother was a retired teacher but yet she was trying to keep making money as stylist. I was studying to become a doctor but life happened and here I am ... a teacher, I still have dreams, I just enjoy each small or big step I give. If I want to eat fresh food I will make time to cook it and take it with me and eat it... I won't complain about how I don't have time or how many hours I didn't sleep to do that. Be smart enough to see the patterns each 20 or 40 years this happens, so you can not trust all your incomings to just one source, because that source may fall.
A very rational and logical way to look at life. I hope economies in South America recover from these times. I heard argentina is going through inflation as well.
Wow...the "you're dumb if you're not doing investment" is sort of happening in my country too.
At least that what marketers tried to make us think.
People need to realise that you invest with an idle money you have. Not by taking out loans.
Luckily people here is still too afraid to do investment since it is something unfamiliar.
Very well said
People are desperate and they will take any advice from the rich to try to get rich quick. Including taking loans to invest.
If you have a lot of money you can actually take a loan out, invest it at a higher interest rate, keep the loan rolling perpetually and live off the accrued interest. Billionaires do this all the time to avoid paying taxes. You never get upside down because the rate at which you borrowed the money is much lower than what you invested it at. borrow at 1 percent and invest it in treasuries at 5 percent or 6 percent for instance.
People in my country prefer to invest in goods and real estate(if possible). Real investing is just something too intimidating to common people, unless you're a gambler or an economics major and know exactly what you're doing
you can use loans (leverage effect...) but it's quite risky of course.
Me personally I am against investing in stock - it means contributing directly to the situation we are living
It's happening in India too,rent is getting higher and higher, for everything price is increasing at a high speed, top of that unemployment it's insane 😳
@priynaka what is the option then ?? Congress ?? Rahul ?? Or kejriwal the free bee man
@@priyankarehal1341 at this point it is not even government's fault, its pumping 4+ kids in past decades
lol modi is the perfect man otherwise you will give your land to waqf@@priyankarehal1341
@@priyankarehal1341Be grateful that we have Modi that's why inflation is controlled in India and we are the only country with zero chances of recession...see the Global inflation and recession before blaming government for everything.
@@priyankarehal1341stupid crying 😂😂
Can someone please explain how this channel churns out so many amazing documentaries? This is one of the best channels on RUclips.
Thank you for doing this❤ I really appreciate your honest work here 😢
All Kdrama’s ever depict is income inequality.
I know right? Kdramas and Kmovies brutally depict inequality like all the time.
Maybe they wanted to say Kpop? 😂
breaks my heart, hold on there to anyone that struggling to make end meets. hope one day you can have a more comfortable job
I live in California and everything has gone up except my pay. To sustain my life style I starting driving for Uber on the weekends.
California has become unlivable unless you are making 6 figures
I think one of the core problem of the moden world is that people are attracted to service/entertainment industry instead of production/manufacturing. The reason are simple and understandable : service/entertainment industry pays more and looks awesome. People want that life. Not a lot of people want to work in hard labour job like in manufacture/production industry.
also flexing in streams for the donations :D this modern world screwed.
lol yea internet begging. aka youtube , twitch streamers.@@Fuckingdork2
South Korean total spending on personal luxury goods grew 24% in 2022 to $16.8 billion, or about $325 per capita. That's far more than the $55 and $280 per capita spent by Chinese and American. nationals. 😂
Stop wasting your money in luxury junk, you will be alright
Just right after the Covid. They have the highest spending on luxury goods. In the US, I’ve seen nurses and doctors in the hospitals, rehabilitation facilities not carrying any of these luxury purses and they even drive an average cars.
Losing manufacturing and construction is devastating. The US did that through outsourcing. Now, manufacturing jobs are just starting to come back online. But it’s going to take time to rebuild. The wealthy don’t live in the same reality as the poor, working poor, lower to middle class who are the builders and backbone of any economy. Instead they’re looked down on. Small businesses shouldn’t be shouldering ever increasing interest rates, they’re not the cause of inflation and income inequality. Look to the rich hoarding money.
Not sure if manufacturing jobs will actually go back to the states. What i have seen is just having the last step of labeling of some sort at the end of the whole process and label it “mDe in USA”. It’s not unique to US though, as it’s the same in Europe and Japan. For example, a US socks making company used to produce socks in China, and now because of this “made in USA” trend, they moved back, but are still buying plain socks from China and only does the final decoration in the US, and then label it made in USA. So there are lots of nuances in this, and you need to make sure that the material is from the US as well as every step of the process. The foundation of the problem is the disparity of labor and material cots between the developed and developing countries. As China is getting expensive, many manufacturing countries are moving to vietnam, srilanka, thailand and indonesia, but not a lot actually moved back to the developed countries.
Im from Germany, and the industry here is searching heavily for well trained workers like those from the bancrupt factories. Its a shame that they cant find a job with those skills
@@border1185 Well trained laborers can easily get a job, and the industry would give them a job quickly. The economy is actually suffering because there are not enough here. The only problem for most foreigners is that the companies expect you to speak german. So a language proficiency of at least B2 is necessary
@@border1185 It is possible in some companies to get training for jobs even if your German is lacking however, one must during this time learn enough German and that particular job training has to be lacking for trainees. I suggest you visit the German embassy they are willing to help or search online. Some companies actually look for people outside the EU who are willing and they then go the extra mile with the formalities.
What about all those illegals that you guys welcomed so hard? So many years went by, I am sure they became useful parts of German society, no? lol
Your politicians (and EU leaders) said this will solve labor shortages, that these people are educated and will be useful, and the Syrians will go home when the war ends in their country.
And what am I seeing today? Western European countries looking for workers in Eastern Europe for their factories/farms/hotels, but for some reason, they still need more illegals and Europe should help the whole f*cking world.
Germany is just a spineless little lapdog of the rich American globalists, just like South-Korea and every Westy country.
Sickening.
germany love doctor and engineer come by boat from africa
i don't think so
@@martinh619
That is real korean drama here. I am in an awe how hardworking they are. I will never be like them I know I would burn out in a mo. And how they do not afraid to take loans I wonder. That must be their only way to live decent life idk
We’re at end stage capitalism now. One player owns all the properties on the monopoly board. The rest of us have no chance
이 어두운 현실에서 어떻게 벗어나겠냐..
Great reportage!
Hope this beautiful country takes a turn for the better. 🇰🇷❤
it wont be covered, because its a drama.. as long as they can show handsome preety flashy people with upper class lifestyle, they wont care about reality..
It reminds me of year 1990s. Hard time living even tho I was born in 2001 but its hard to even move away or get a job. Its hard to take care of myself too xd
Everything is automatic is what bothered me the most in kdrama, I don't see such things in my country, I love interacting with people, I love to order food from people, I love to ask for help from people rather than doing all this with machine.
Agreed. Just not having overbearingly big birocrat system tho.
It's sad to see someone in his peak working years doing something that a teenager would do to make some spending money. At same time I'd commend him for doing "something" instead of getting drunk or feeling sorry for himself.
Not just Korea, many countries have similar situations, and it's tough for young people and the elderly.
I really like Chinese "let it rot" movement. I think as long as you earn enough to lead a healthy life, thats enough. Don't need hardwork or overwork.
They don't earn enough and have no ambitions to do so, living off of their parents' money, and having no use for society. Dont really see the pros here
That will also destroy China
@@lwms120 he literally said "as long as you earn enough"
@@clazzimodo1932 The issue with his statement is, that the Let It Rot movement doesn't promote making any money nor contributing to society, meaning his statement contradicts itself. It is mainly practiced by people in their 20s who went to university and now do not want to do any physical labor. They all want to enter professions such as engineering, whilst the job market simply doesn't have any open positions in such fields. China's youth unemployment rate is at around 20%. They do not get kids, they do not boost the economy, they simply have no use for anything. (Also rotting in a tiny room with no money shouldn't really be an alternative to working. Dont see where such life is more fulfilling)
@@lwms120 regardless of what the movement actually means, the original comment's interpretation of it is still working and making enough money to live comfortably.
First Japan got an economic boom through hard work and long hours with good pay but those days are over. Korea is following the same pattern, next in line.
This is happening worldwide. One thing you see in countries around the globe is the disparity, the growing gap, between rich and poor.
The existence of "money" is always the problem.
Not the money, debts
crazy grinding
We are now living in a post apocalyptic dystopian world. Its here now. Its happening. Its survival mode just like the movies you watch where people work and live on bare minimum to survive. You get what you can and make the most out of everything to get by. You have to work hard, go back home, protect your stuff from looters, and just keep going back to work everyday. Gone are the days where you sit back, chill, take it easy, and demand work life balance.
So true. And mental health is getting worse in these times.
1:00 ferrero, don't leave home without it! 🤣🤣🤣
Every country is in economic struggling right now
Now with the internet you can communicate with family daily, before that, we had to write letters because long distance phone calls were expensive.
As someone who live in indonesia, our government has been denying every sign of economic slow down. They keep shoving to our face statistic numbers like GDP, macro and micro economic stats. But they never see the fact that household debts has skyrockets, housing price has skyrocket, Most of people have to work 2 and 3 jobs to support their families. Many small business that closed down during covid, cant open their business, because everything is expensive. Most of government just sweep this problem under the rug, and hope that it will get better and people will forget their incompetence.
Good doc
Only way Korea will overcome this poverty is if the country decides to share the wealth and help the poor, so that all can thrive.
Tiba2 merasa beruntung tinggal di wakanda mau makan gak susah, hiburan gampang didapat, tinggal di rumah gak kepanasan, gak kedinginan, dengan kerjaan standar jg masih bisa liburan sama anak2 tiap tahun tanpa hutang, masya Allah tapi keren sih ethos kerja orang Korea ni pada rajin2 banget, patut dicontoh semangatnya utk bertahan hidup
So many shed tears here and still the rulers refuse to see them.
"Work sets you free" look more like happen again. Achievement, reach targets, fame, glorious and wealthy would deceive people to overwork at all costs. All these beautiful words are replacement for workaholics, fake rich, selfishness and self indulgent. They can’t comprehend what is a meaning of LIFE !!??
how is working hard selfish?
freedom is slavery..!!
@@lwms120 working hard and workaholic/overworked are totally different definitions. Work hard to path a better life with work life balance is wonderful, workaholic is 24/7 working will lead to mentally illness and health issues causing life deteriorating with tragedy. I’m retired enjoying everything that I have……family, friends and our daily bread life.
In the USA a song from a frustrated unknown singer became #1 “Rich Men North of Richmond” It’s the sign of the times, in SK it’s the rich CHAE BOL.
The right has made it their anthem. That's the only thing I've heard about it.
I"ve watched it, I"m a American. It is a good song, but much of the anger of the lyrics are misdirected. He keeps voting for Republicans, a political party determined to make life hard for the working poor and middle class. That is like taking a hammer to your balls repeatedly at the voting booth.
I am so thankful for what I have and the job that I have. I don't ask for much in life, and live within my means. There are so many people who are better off than me and also many people who are worst off than me. Life can be cruel. This drive to compete among each other is LITERALLY killing people due to the sheer amount of stress and expectation.
It’ll happen elsewhere but because the nation is smaller and the demand will continue to get smaller and fierce. Smaller countries like SK will get the first wave of declining markets in all its sectors
And the government wonders why the birth rate is so low.
Capitalism... monolopies... short-sighted legislation. That's happening in the u.s. People are dependent upon a system that encourages people to go into debt and to have more and more while giving back less and less for labor. Food costs increased here too, and again ... most are dependent upon this system because most are not able to grow their own food. Like me 😅 I manage to kill 🌵 My groceries are much more than before... and the 99cent store is a lie now lol.
People>profits
One of the few wise comments which can see the root cause.
Capitalism is not the root cause. It is croneyism and corporatism. When corporations like the chaebols of SK are in close collaboration with the government there is corruption and economic inefficiency. The free market suffers as a result. You are seeing the corruption of capitalism itself and blaming capitalism without even realizing it.
We are ready for HISTORY REPEANT ITSELF
South Korea in terms of "livable land" consists of 20-30% at most, since it has a very mountainous geography. The only hypothetical proposition is to get clear out mountains to potentially increase farming, since we lack most natural resources. Population is increasing, but not enough land to grow the necessary crops to sustain a country. The richest country in the world will be one that has a 70-30 ratio of importing - 70 export and 30 import.
sorry to intrude, but the south korea population is in decline
And 50% of the population lives in the Seoul metro area. Plenty of livable land considering they are also mountain folk.
Population is decreasing,birth rates are all time low
i can help with that@@thisnthat7760
@@ikennaonyeagolu2283 In japan too. It seems these generation, they are too introverted and shy because of computer and phone( technology). so they dont know how to communicate. And some people wont use dating apps. cuz of bad experiences. Also a lot of people dont know if they would be able to support a kid.
Do Koreans 'work to live' or 'live to work'? It is an insane amount of hours that they put in for the salary that they are getting.
Prices are soaring and wages are rising
I already seen this far way back in 2016 when our company ditched the components we purchased from SK that we order since 1987 because the prices goes up to 400%!!!! for the same specs and materials!!
and NO we didn't switch to the Chinese one, we replaced it with Australian made which is around 150% from the usual prices.
I remember mumbling "The Koreans get too cocky and do some ridiculous price gauging"
sound like its all for the elite, product price, rent, interest all are rising, but not salary
I live in Southeast Asia. Here kinda looks the same. Many young people have loans to buy luxury goods or start a family, even though their salary is only enough for one life.
What's worse is the government itself. They took a lot of foreign loans and printed a lot of money under the pretext of building infrastructure, even though maybe around 50% went into their pockets (corruption). There is a lot of debt but economic growth is actually decreasing, which is really ironic.
And you know what, corruption is mounting to fill their pockets during the next election. F*ck
Aren't we all? If we don't have a faith, how can we survive in this world?
This is WORLDWIDE. America is on a Downward Spiral too!
Thanks to biden and those idiots who voted him 🎉
1kg of flour may cost less in Australia, but we are facing an energy crisis over here.
it's not just South Korea but in India also it becoming hard to survive. Inflation , no jobs, so much competition , responsibilities , college school fees are out of control. Because of all of these reasons birth rate in South Korea are dropping down unlike India . i don't understand in India how do people survived with kids with less earnings? after all this still India is no1 at birth rate . No one cares about population , competition, poverty, pollution 🤦♀. Atleast other countries people think about this if they can't survive they don't think about the kids and marriage.
Wealth Prosperity needs lots of disipline. Often can be acquire through 1 generation but best is the decendant or generation wealth. Even starting from your Parent's generation, current and your childrens. There is no short cut.
It’s happening everywhere 😢
I am half worker half farmer i have my own farm and work on good company 😢😢😢😢 but still i worried about my child in future is they will finish their study properly ? Is they can find job ? 😢😢😢😢😢😢😢
It’s a global trend, yup.
Can we have the subs in slightly bigger letterings… thank you
i hope all their hard work pays off
damn, this is deep
Hmm.... I wonder why wheat prices and corn prices have gone up?
What about the rich? Are they still getting richer or getting poorer like the rest of the population?
obviously getting richer
Rich always get richer and that's the way it works.. They get richer that's why poor gets poorer
@@Shwetasingh-qo7ez Yes it is sad when there is no middle class.
That why Korea has to create middle class, don't follow usa.
@@TrinhNguyen-sh4fj korea is majority middle class
2% 6% is the interest rate, that's crazy low
I feel bad.. because I don't have their work ethics... and not sharing their struggles.
The amount of zeros keep freaking me out until I remember it’s won (still a lot of money tho)😳😱😂
Fix the base layer, money.
Saya berterimakasih untuk videonya. Yang terpikirkan oleh saya adalah.. Saya pernah menonton uji coba untuk orang-orang yang dikumpulkan dan kurang tidur. Mereka bahkan ada yang mulai memakan bagian tubuh mereka sendiri setelah tidak tidur sekian lama. Apakah efeknya mirip jika kita kurang tidur terus-menerus selama bertahun-tahun? Saya penasaran. Terimakasih & salam dari Indonesia ❤.
The only thriving industry in this country is church industry , these youngsters are finding difficult to find jobs hence they go into the profession of being a missionary and serve the american agenda. These missionaries are exported to developing countries which were either looted or colonized ,these missionaries sell them a dream by show casing a grand life if they accept jesus, but here we see the reality.I respect these hardworking ppl who choose to go into different feilds and make a living instead of being a missionary.
They didn't explain to well what this "open run" job is. Would like to know more about this kind of work.
Getting in line to buy limited edition or hard to get products for someone else. Mostly luxury items like handbags, watches, etc.
Se todos ficarão pobres então existe alguém que nos queira pobres, então a culpa é de quem?
It's crazy that most koreans do have credit cards and credit accounts on their daily basis.
Economic crisis's happen in all over the world even in us or Europe..lifes as a human being was hard but at one sanerio show clearly to the world's that the rich become more wealthy and the poor remain as it is.. obviously this is real in every part of the world we live in
Whole generations of South Koreans haven't experienced any deflation since the 1979 economic crisis that happened during 2nd oil shock and has gone forward with a bright future in good opportunities(Low dollar, low oil price, low interest rate) and extended economic scale as massive bank debt when ending of high growth in 2011. Household debt in Korea has been a long time to lose control and is much bigger in asset size by granting loan products from govts, and Low-interest rates loans from private banks for 14 years. Mainstream News, word of mouth from people around you, and recommendations of Friends & office workers induce fall into pit of debt easily and intentionally ostracized from social organizations unless you have debt. During the high-interest rate period, south Korean economic structures are extremely dangerous through endless surges in loans, which only left asset deflation in the future. When the asset bubble collapse of $1.4 trillion, a massive wave into 1st and 2st financial sectors, financial companies will bankrupt and manufacturing industries collapse. Asset deflation in South Korea is already underway.
Well, 1 company in korea holds 20% of the country's gdp. Imagine the power it holds and the disaster it might pose if it fails. But yeah, that's highly unlikely.
Its unlikely, but not “highly unlikely “. After all, that , or those few companies need to compete globally, and only relying on the domestic demand within SK is not enough at all. From what i can see, The company you inferred to is not heading towards a nice and easy path.
25:38 what?! They couldn’t even entice customers to do a upick cabbage?! Such a waste of cabbages😢
Today they focus on ammunition, weaponry, battleships. All states preparing for incoming wars. All taxes you pay is not coming back to you but to military. So how economy cope up while they focusing militia they put high cost on every necessities you have. That's why you get poorer
누군가 혁신적인 발견으로 새로운 시대를 열었으면 좋겠다
There is no way I can wake up at 4am
Damn I never knew people are getting paid to queue in front of a store 😅 koreans are so creative & hard working
Exactly. It's the first time I've heard of it.
I call that "jastip"
CTTO: letting the cat out of the bag.
By Anonymous~1937
"What did you tell that man just now?"
"I told him to hurry."
"What right do you have to tell him to hurry?"
"I pay him to hurry."
"How much do you pay him?"
"Four dollars a day."
"Where do you get the money?"
"I sell products."
"Who makes the products?"
"He does."
"How many products does he make in a day?"
"Ten dollars' worth."
"Then, instead of you paying him, he pays you $6 a day to stand around and tell him to hurry."
"Well, but I own the machines."
"How did you get the machines?"
"Sold products and bought them."
"Who made the products?"
"Shut up. He might hear you."