Sampo Generation of South Korea

In today’s world, South Korea is a reflection of one of the countries of the developed world – a country that has made great strides in education, research, economy, technology, and armaments. The search for similarities with South Korea after World War II and the post-Korean War of 1950 must be accelerated. Many of us are familiar with the term ‘Miracle of the Han River, which refers to the rapid economic growth of South Korea after the Korean War. But the socio-economic inequality of the post-miracle period is shrouded in technology, development, and cultural glamor.

In the 1960s, South Korea began to transform from an agricultural economy to an industrial economy. The word “miracle of the Han River” was introduced by the country’s second prime minister, Chang Myun, in 1981. For the next fifty years, no one could control South Korea’s economic growth. Their companies like Samsung, Hyundai, and LG Electronics compete with multinational companies like Toyota, Sony, and Honda in Japan.

But the side effects of the above three decades of average growth are now the root cause of South Korea’s socio-economic inequality! After the popularity of the Academy Award-winning movie ‘Parasite’ (2019), the issue of that inequality came up in the popular media. South Korean director, Bong Jun-ho’s specialty is that he can beautifully portray the story of socio-economic inequality in the film. Almost all of his films capture the context of South Korea’s economic inequality. Bong’s movie ‘Mother’ (2009) tells the story of a helpless mother from a low-income family. South Korea’s discriminatory society has been visible to everyone since that time.

Sampo Generation

The concept of the Sampo Generation originated in 2011. The root word is samposedae, which means ‘ Three giving-up generations.’ The country’s young generation cannot get married, have children, and choose a mate due to high living costs and unemployment. As a result of the Sampo generation, South Korea’s birth rate is now below 1. At present, the birth rate of the country is 0.9 per thousand. According to experts, South Korea’s elderly population will be the highest in the world by 2050. It is only a matter of time before the pressure of this aging population in the near future causes economic hardship in many countries.  

In South Korea’s formal education sector, it is called Hell Joseon because of the extra competition and pressure and the fierce competition in the job market. Joseon is the forename of South Korea. The name is compared to hell because of the young generation’s lack of education and the high level of competition and frustration in jobs. Due to the pressure of education and intense competitive behavior, the tendency to commit suicide is high in South Korea. Like Japan, South Korea is suicidal and one of the top countries on the unhappy index. A 2019 survey by the National Youth Policy Institute found that 34% of students considered suicide due to academic pressure.

South Koreans earn less than they spend due to work pressures, overtime, and low wages in the corporate sector. Due to this, middle-class and lower-middle-class families are burdened with debt. The multinational group of industries in South Korea is called Chaebols,  which means rich family. The multinational conglomerates that played a key role in Korea’s economic growth are now being blamed for economic inequality.

In South Korea, large companies largely control the market. As a result, small and medium businesses cannot expand. Employment is also in the hands of big companies, which is much less than the need. As a result, job opportunities are less for the younger generation. Excessive competition has led to chronic depression among the younger generation. The current generation of South Koreans does not want to get married and have children due to the rising cost of living and unemployment. In particular, women do not want to leave their jobs to have children. The cost of raising children has also come up as a reason in the survey. Although the South Korean government has taken various steps in this regard, there is still no way out of this situation.

Many South Koreans are now living as single families from a multi-member families. Seoul’s small apartment culture is also known as ‘The culture of living alone’ or Honjok. Being unmarried and reluctant to form a family is considered to be the main reason for the Honjok tradition.

The style of social competition

South Korea has a tradition of fierce competition in almost every field, from formal education to the workplace. Competition is not new everywhere in the 21st century. But in the case of South Korea, it is a social norm. As a result of the ‘Winner Takes it all’ attitude, problems like overconsumption also increase. This style of competition has been putting pressure on the field of education as well as the field of work since childhood. 

In all cases, this mentality is creating an attitude of discrimination and creating pressure on the formation of a creative mindset. As a result, the younger generation is withdrawing from the social sphere. The number of drug and alcohol users is increasing. This attitude is also responsible for the ‘gambling epidemic’ in South Korea. In particular, borrowers easily fall into the trap of gambling or gambling in the hope of huge profits and subsequently fall into the trap of the lender cycle. Overall, this has resulted in many losing everything and going bankrupt.

For the developing and developed world, it is just as important to overcome economic and social inequalities as it is to live well and be happy regularly. South Korea is no stranger to the social problems that the Baltic states of Europe, including Japan, have long faced due to economic prosperity.

The country’s President Moon Jae-in, in his election pledge, spoke of addressing the pressures of competition among the younger generation in the socio-economic sphere and the consequent deterioration of overall mental health. According to him, long-term solutions are possible only by reducing the market power of Chaebol or large companies, reducing working hours, and reducing the pressure on employees. However, optimistic older people in South Korea believe that the Sampo Generation’s practice of not marrying and not having children is temporary. According to them, the younger generation will soon overcome this fatigue and depression.