“Blue light is scarier than heatwave”: 20s-30s investors delete delivery apps, lock wallets

Young investors in South Korea, often referred to as "ants" for their diligent investment strategies, are taking drastic measures to cope with significant stock market losses. Many are deleting popular food delivery applications and implementing extreme spending freezes, a phenomenon dubbed "wallet lockdown."

The primary driver behind this behavior is the "blue light", a term used to describe the negative evaluation losses seen in their investment accounts as major stock indices tumble. Faced with continuous daily losses, these investors, predominantly in their 20s and 30s, are seeking ways to offset their investment setbacks by reducing their expenditures.

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The blue light flashing on my stock account is scarier than the summer heatwave. I've canceled my monthly delivery app subscriptions and deleted the app from my smartphone.

This trend is visibly manifesting both online and offline. Online communities are flooded with posts from users documenting their extreme cost-cutting efforts. One netizen expressed, "The blue light flashing on my stock account is scarier than the summer heatwave. I've canceled my monthly delivery app subscriptions and deleted the app from my smartphone." Another user declared, "Starting today, I'm enforcing a strict one-meal-a-day diet. I'm avoiding going out and only eating home-cooked meals to achieve zero spending for the day."

In the workplace, an increasing number of white-collar workers are opting for convenience store lunch boxes or utilizing office pantry beverages instead of frequenting coffee shops during their lunch breaks. Experts analyze that the combination of high inflation and the prolonged stock market slump has severely contracted the consumption sentiment among the younger demographic. The reverse wealth effect, where falling asset prices lead to reduced spending, appears particularly pronounced among the 20s and 30s generations, who are in their crucial asset-building phase.

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Starting today, I'm enforcing a strict one-meal-a-day diet. I'm avoiding going out and only eating home-cooked meals to achieve zero spending for the day.