KOSPI rally fuels record exodus from long-term bank savings

Lee Joo-young, an office worker in his 30s, recently broke a three-year deposit to put the money into large-cap semiconductor stocks. “I thought the stock market boom would be short-lived, but I guess I was wrong,” he said. “Better late than never, right? I don’t want to leave cash for two or more years while feeling frustrated for missing out. The past few months have been enough. I will stop feeling jealous or bitter for not taking the chance sooner.” Many of his friends made quick money after buying SK hynix and Samsung Electronics, some of them having taken out stock loans for larger gains. “Every time we said SK hynix share prices were too high and soon would fall, they climbed higher. Is it too late? Maybe, but maybe not, since the semiconductor supercycle is reportedly locked in for the next few years. Samsung Electronics shares are not what they used to be. Who would have thought they would top 200,000 won ($139)?” Lee said. Similarly, Lim Sung-yoon, another office worker, said stock investments were a frequent topic of conversation in her daily life. “When I meet