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Business consultant Choi Hui-ji, 26, aims to save 70 percent of her monthly wages. Of that, she invests about half in overseas exchange-traded funds through an individual savings account (ISA). Her goal is to own a home, a separate income-generating real estate and secure a monthly income of 5 million won ($3,756) by retirement.

"Saving just 100,000 won a month in your teens can grow to a much larger amount than saving 200,000 or 300,000 a month in your 30s. I believe starting early and saving consistently, even if it's a small amount, is one of the best ways to ease financial concerns in the future."

Like Choi, many young Koreans are turning their attention to investment, believing it is the only way to create an economic ladder. Recently, there has been a significant number of social media posts explaining how people saved 100 million won in their 20s, gaining widespread attention.

"I started thinking, 'Will I ever afford a home in Seoul if I only keep saving?' I realized that simply relying on regular income wouldn't be enough to achieve that goal. I needed to invest to accumulate wealth, and that's what prompted me to get started," said Lee Woo-jae, a 29-year-old working in the IT industry.

"Everyone is just trying to find a way to grow their small salaries somehow," said Yun, a 28-year-old office worker.

Traditionally, the primary participants in financial investments have been middle-aged and older adults, as the younger generation holds limited accumulated assets. The large-scale entry of younger people into the asset market is an unexpected and noteworthy trend, according to Han Young-sup, director of the Economic Care Research Institute.

A jobseeker reads job information at a job fair in Seoul, July 10. Yonhap

Another factor driving this trend is their anxiety about the future.

"I'm less focused on becoming rich and more on preparing for retirement. With concerns about pensions running out, and knowing that I can't rely on earned income forever, I feel it's important to start investing while I'm still young and capable," Ji Hyeon-seong, a 29-year-old office worker, said.

The growing focus on investment among the generation is encouraging even those who were less interested to start investing.

"When I meet up with friends for a casual meal or drinks, our conversations have noticeably shifted," Ji added. "In the past, we used to talk about everyday things, but now the topics revolve around, 'I heard this stock is doing well' or 'People are investing in that.'"

The overall barrier to investing has also lowered. The government is actively rolling out measures to assist people with wealth management. They include tax benefits for ISAs and the launch of retail investor-exclusive treasury bonds.

This contrasts with the situation about 20 years ago, when Yang Seung-hee, a financial planner working for Seoul Young Tech, worked in the securities industry. "Back then, there weren't many tax-free investment options. Initial public offering subscriptions also had high minimum investment requirements, so only people with significant funds could take part."

Seoul Young Tech is a program by the Seoul Metropolitan Government that offers one-on-one financial counseling and group education to help young Seoulites build their assets systemically.

However, growing interest does not necessarily translate to sufficient financial knowledge. Many young Koreans contacted by The Korea Times and consulted by Yang admit they follow advice from YouTube or their peers.

"In the past, only certified experts like financial managers and stock specialists gave lectures. But now, even individuals without formal qualifications are sharing their experiences of making money through platforms like YouTube. Seeing everyday people succeed gives the impression, 'If they can do it, so can I,'" Yang said.

Nevertheless, the lack of experience and sufficient knowledge could lead to speculation, with many seeking high returns in the short term.

Books related to jobseeking are displayed at a large bookstore in Seoul, July 16. Yonhap

The Seoul Bankruptcy Court noted that "the percentage of personal rehabilitation filings by individuals in their 20s, whose economic activities have expanded into areas like cryptocurrency and stocks, has risen steadily from 10.3 percent in the first half of 2021 to 17 percent in the second half of 2023."

Han pointed out the clear divisions among young people: those who can invest extra money in assets, those who can't and those who feel stuck in between.

"When it comes to any investment, the most fundamental principle is understanding that there's always a risk. If you have a strong financial foundation, you can afford to take bold, aggressive moves. But for the majority of young people who can't, investments tend to end in failure because the ability to endure losses is key in investment. Without that financial buffer, they end up resorting to risky, short-term trading," Han said.

In a 2020 survey conducted by the Korean newspaper Kyunghyang Shinmun and the polling agency PMI on individuals aged 20 to 34, 64.9 percent of "active investors" — those who had invested in four or more of the 12 financial sectors — identified themselves as belonging to the "upper-middle" or "upper" class.

"Society has shifted toward a survival-of-the-fittest mentality. The country isn't like Northern Europe with a strong social security system. There's also a lot of debate around issues like the national pension's depletion. The older generation largely discusses these matters from their perspective, leaving young people with little voice in the conversation," Han added.

"Young people are doing their best within the limited means available to them."