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Why do Koreans love money?

Published in Korean Culture 2 mins read

Koreans' apparent emphasis on money stems from its perceived role as a crucial factor for maintaining relationships and overall well-being, rather than an inherent love of money itself.

The Role of Money in Korean Society

While it might appear that Koreans are exceptionally focused on money, the reality is more nuanced. The Pew Research Center's findings highlight that, unlike many other cultures, Koreans prioritize material well-being and physical/mental health over family ties when considering the sources of a meaningful life. This doesn't mean family is unimportant, but it is not the top priority.

Key Findings from Research:

Rank Other Countries Korea
1 Family/Children Material well-being/Physical & Mental Health
3 (Not Applicable) Family ties
  • Material Well-being: In Korea, financial stability is often seen as a prerequisite for a secure and comfortable life.
  • Health: Good health, both physical and mental, are highly valued and often seen as being connected to financial means to achieve.
  • Relationships: Money is viewed as the “adhesive” that helps maintain relationships by enabling shared activities, gift-giving, and supporting loved ones, as stated by Oh in the provided context. This doesn’t denote a lack of care, but rather the idea that the financial element assists in strengthening these bonds.

Money as an Essential Tool

For many Koreans, money is not an end goal in itself, but rather an essential tool that is used:

  • To Facilitate Social Interactions: Financial resources enable individuals to participate in social events, offer gifts on special occasions, and maintain a certain social standing.
  • To Support Family: Providing financial support to family members is a deeply ingrained value in Korean society, where it is often seen as a duty and a way of showing care.
  • To Achieve Stability: Financial stability is often linked to achieving a sense of security and independence.

Conclusion

The emphasis on money in South Korea reflects a cultural perspective where it’s seen as a critical resource that impacts all aspects of life, from maintaining relationships to ensuring health and overall well-being. It's less about the accumulation of wealth for its own sake and more about using money to achieve security, fulfill social obligations, and maintain strong bonds with loved ones.