Young Couples Woo Each Other with Samsung, Tesla Stocks

      May 12, 2021 08:26

      A growing number of young couples are wooing each other with blue-chip stocks instead of roses and jewelry.

      Online retailers such as 11st and Kakao are selling stock gift cards targeting customers in their 20s and 30s. People who receive them simply have to register them in their brokerage accounts to lock in shares in companies like Netflix and Tesla.

      Shinhan Investment, which sells stock gift cards on Kakao, said people in their 30s account for 45 percent of customers for the coupons, followed by those in their 20s who account for 24 percent.

      KB Securities began selling stock gift cards at a 10-percent discount on 11st on March 29, and sales already surpassed W5 billion in the first 20 days (US$1=W1,120).

      One young woman said, "My boyfriend asked me to choose between a handbag and a Tesla share for my birthday present." One 28-year-old office worker said, "My birthday is next month and my girlfriend told me to open a brokerage account, because she's going to buy me Samsung shares. I've shunned investing in stocks so far due to the risk, but I think I'll give it a try this time."

      The trend reflects the increasingly pragmatic attitudes of young Koreans. Lee Jun-young at Sangmyung University said, "The millennial generation put more emphasis on pragmatism than on satisfaction from purchasing goods."

      A staffer at Korea Investment and Securities said, "We are seeing a growing tendency among young people to buy Apple shares instead of a new MacBook."

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