As economic pressures mount, a growing number are trading conspicuous consumption for thriftiness
In the wake of escalating economic pressures and inflationary trends, many young South Korean are turning to a unique digital outlet for financial support: geojibang, or “beggars’ room,” a public chat room on KakaoTalk, the country's ubiquitous mobile messaging app.
Geojibang, birthed this year, has become an online forum for young South Koreans to scrutinize their spending habits. Participants of this chat room ironically refer to themselves as “beggars,” an intentional acknowledgment of their financial status or lack thereof. They frequently share stories of their daily expenses and endorse thriftiness, often through harsh encouragement, to promote saving.
In the wake of escalating economic pressures and inflationary trends, many young South Korean are turning to a unique digital outlet for financial support: geojibang, or “beggars’ room,” a public chat room on KakaoTalk, the country's ubiquitous mobile messaging app.
Geojibang, birthed this year, has become an online forum for young South Koreans to scrutinize their spending habits. Participants of this chat room ironically refer to themselves as “beggars,” an intentional acknowledgment of their financial status or lack thereof. They frequently share stories of their daily expenses and endorse thriftiness, often through harsh encouragement, to promote saving.
Get 30 days
of free access to
KoreaPro
Full access to all analysis
The KOREA PRO newsletter, every business day
Daily analysis on the top story of the day
The ability to suggest topics for coverage by our specialist team
Be smart about South Korea
Get full access to expert analysis and opinion.
Start now
No charges during your trial. Cancel anytime. A paid subscription will start after 30 days.
© Korea Risk Group. All rights reserved.
No part of this content may be reproduced, distributed, or used for
commercial purposes without prior written permission from Korea Risk
Group.