Investing

Broke Millennials Turn to Day Trading to Strike It Rich in Korea

  • “Sociology” rather than economics drives Korea’s day traders
  • Korean real estate prices keep rising despite crackdowns
Photographer: SeongJoon Cho/Bloomberg
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Jenny Lee has a dream: To own an apartment in Seoul, South Korea’s capital, where homes sell at around a $1 million each.

The 27-year-old, who was jobless for a year until last month and rents a room at a dormitory near Seoul, will have her work cut out making that kind of money. She lacks a degree from a “good” college -- key to landing a coveted job at conglomerates like Samsung Electronics Co. which dominate the economy, and she is a woman in a country where patriarchal norms have been hard to shake off. In the meantime, she thinks she’s struck on a solution: Day trading.