Old stock and housing calls resurface as Lee Jae-myung approval falls to 44%

Videos of former President Lee Myung-bak urging stock purchases during the 2008 global financial crisis and then-Finance Minister Choi Kyung-hwan arguing in 2014 that buyers needed only 30% more than jeonse (South Korea's lump-sum rental deposit system) to own a home are spreading again online as South Korean markets wobble and housing affordability worsens. The long-term outcomes look stark: Samsung Electronics, which Lee did not specifically recommend, was trading in the 400,000 won range at the time, or about 10,000 won a share on today's basis after its 2018 50-for-1 stock split, meaning a long-term holder would have made nearly 30 times their money, while the average Seoul apartment rose from about 500 million won in 2014 to about 1.5 billion won. The renewed attention comes as young investors using margin loans (borrowed money to buy stocks) were hit especially hard in the recent Kospi selloff, when circuit breakers (automatic trading halts) were triggered on both days, and as a Gallup Korea poll released on Aug. 14 showed President Lee Jae-myung's approval rating fell 7 percentage points to 44%, with housing policy the top reason for disapproval and support weakening among voters in their 20s and 30s as well as progressives.

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Old stock and housing calls resurface as Lee Jae-myung approval falls to 44% - CoinPost Terminal