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YouTuber lost 700 million won in stocks, warns viewers against excessive trading
🇰🇷 South Korea /Culture & Society

YouTuber lost 700 million won in stocks, warns viewers against excessive trading

From Dong-A Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

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  • A popular South Korean YouTuber confessed to losing approximately 700 million won (about $500,000 USD) due to stock market investments.
  • The YouTuber, known as 'Chongchong' on the channel 'ChongchongTV Silver Gun', began investing to afford a home in Seoul but fell into speculative trading after initial success.
  • He warned viewers against excessive stock trading, emphasizing the potential loss of not only money but also health, happiness, and relationships.

A South Korean YouTuber, known online as 'Chongchong' from the channel 'ChongchongTV Silver Gun', has revealed the devastating impact of stock market investments, confessing to losing around 700 million won (approximately $500,000 USD).

You might feel unhappy right now because you don't have money, but don't invest in stocks excessively.

— ChongchongThe YouTuber warns viewers against risky stock investments, sharing his own experience of significant financial loss.

In a video shared on June 14, Chongchong explained that his initial motivation for investing was the desire to buy a home in Seoul, a goal he felt was unattainable through regular employment alone. He started investing in overseas stocks like Google, Apple, and AMD around the end of the COVID-19 pandemic in 2022, experiencing significant gains of 100-150% by 2024.

I started investing with the idea that I couldn't afford to buy a house in Seoul just by working.

— ChongchongHe explains his initial motivation for entering the stock market.

However, his investment strategy shifted towards domestic theme stocks, leading to his first major losses. He then sold his stable overseas holdings to chase volatile stocks, experiencing a cycle of profits and losses. A turning point came when he invested in cryptocurrency-related stocks, making 200 million won in just a week. Despite this success, he continued trading, driven by a desire for more, which ultimately led to a 200 million won loss on an investment that had previously shown a 150 million won profit.

I bought Google, Apple, and AMD in 2023, and Tesla in 2024. By the latter half of 2024, almost all of them had risen by 100-150%.

— ChongchongHe describes his early successes with stable overseas stocks.

Chongchong shared his stock account to verify his claims, detailing how greed led him to increasingly risky trades, including margin and credit trading, which he strongly advises against. He also noted the psychological toll, stating that his focus became entirely consumed by stocks and money. He urged aspiring investors to avoid excessive risk, warning that they could lose not only their finances but also their health, happiness, relationships, and time.

That's when I first lost money in stocks.

— ChongchongHe recounts the shift in his investment strategy towards domestic theme stocks.
DistantNews Editorial

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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