THE SAMPO GENERATION OF SOUTH KOREA
In the 1960s, South Korea began to transform from an agrarian economy to an industrial economy. The term ‘Miracle of the Han River’ was introduced by the country’s second Prime Minister, Chang Myŏn in 1961. No one could hold the reins of South Korea’s economic growth for the next fifty years. Their companies such as Samsung, Hyundai, and LG Electronics began to compete with Japanese multinationals such as Toyota, Sony, and Honda. But the side effect of three decades of continuous average growth above 7 is now the main cause of South Korea’s socioeconomic inequality! After the popularity of the Academy Award-winning movie ‘Parasite’ (2019), discrimination came up in the popular media. South Korean director Bong Joon Ho’s specialty is that he can portray the story of socioeconomic inequality in films. Almost all of his films deal with the backdrop of economic inequality in South Korea. Bong’s movie ‘Mother’ (2009) tells the story of a helpless mother from a low-income family. It was during that time that South Korea’s discriminatory society became apparent to all. In 2011, the Sampo Generation idea first surfaced.
The word’s root, samposedae, means ‘three giving-up generations.’ Due to high living expenses and unemployment, the nation’s youthful population is unable to marry, have children, and select a mate. The Sampo generation is to blame for South Korea’s birth rate falling below 1. The nation now has a birth rate of 0.9 per 1,000 people. Experts predict that by 2050, South Korea will have the largest elderly population worldwide. It will only take a short while to determine exactly how many nations will experience economic destitution due to the burden of an ageing population. Hell Joseon is the nickname given to the formal education system in South Korea as a result of the intense job market competition, excessive pressure, and competition. South Korea was formerly known as Joseon. Due to the intense struggle for jobs and education among the younger generation as well as the country’s general sad situation, South Korea has been compared to hell. Due to intense competition and academic pressure, South Korea has a high suicide rate. South Korea ranks among the top nations for suicide and unhappiness, similar to Japan. According to a 2019 National Youth Policy Institute survey, 34% of students had thought about suicide as a result of academic stress.
Due to heavy workloads, overtime, and low earnings in the corporate sector, South Koreans make less money than they spend. Families in the middle class and lower middle class are therefore struggling under debt. In South Korea, multinational industrial conglomerates known as Chaebols — wealthy families — are referred to as such. Economic inequality is now attributed to multinational corporations, which were crucial to Korea’s economic expansion. In South Korea, big businesses essentially hold sway over the majority of the market. Small and medium firms are therefore unable to grow significantly. Additionally, it maintains considerably fewer jobs than are required in the hands of large corporations. The new generation consequently has fewer employment prospects. The younger generation suffers from chronic depression as a result of excessive competitiveness. The rising cost of living and unemployment have made South Koreans of the present age reluctant to get married and start families. Particularly women do not want to leave their employment to start a family. The cost of raising children also came up as a factor in the poll. A large number of South Korean citizens are now living in single households rather than multi-member households. Seoul’s small apartment culture is also known as ‘The culture of living alone’ or Honjok. Being unmarried, and reluctance to start a family is considered to be the main reasons for the Honjok ritual.
Norms of social competition
In practically every sphere, including institutional education and the workplace, South Korea has a history of strong rivalry. In the twenty-first century, competition is nothing new in any industry. However, it is a social norm in South Korea. A further issue caused by the ‘Winner takes it all’ mentality is overindulgence. This culture of rivalry, which dates back to childhood, is exerting pressure on both the educational and employment sectors.
In all cases, this mindset is creating an attitude of discrimination, as well as creating pressure to create a creative mindset. As a result, the young generation is withdrawing from the social sphere. The number of drug and alcohol abusers is increasing. This attitude is also responsible for South Korea’s ‘gambling epidemic’. In particular, borrowers easily fall into the trap of gambling or gambling in the hope of huge profits, and subsequently into the trap of loan sharks. Overall, many people lose everything and go bankrupt as a result. Just as mitigating economic and social inequality is essential to future challenges for the developing and developed world, so are well-being and everyday happiness. South Korea is not new to the social problems that Europe’s Baltic countries, including Japan, have long faced as a result of economic prosperity. However, South Korea’s optimistic elderly population believes that the practice of not marrying and having children of the ‘Sampo Generation’ is temporary. According to them, the young generation will soon overcome this boredom and depression.
