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You can declare bankruptcy and no one thinks anything of it. In the US, failure is the mother of success.

вЂњShame is very big in Korean culture,вЂќ he added. Many got into debt because of the incredible pressure to keep up, to be the best and purchase the best. вЂњThis is a country thatвЂ™s undergone spectacular changes and growth in a relatively short time. Household debt in South Korea, where an average house can now cost upward of a million dollars, has skyrocketed in recent years.

The idea for вЂњSquid GameвЂќ didnвЂ™t come out of thin air. вЂњSouth Korea can be very unforgiving,вЂќ Greg Scarlatoiu, the executive director of the Committee for Human Rights in North Korea who lived in Seoul for 20 years with his South Korean wife, told The Post. So many people, many of them young, have committed suicide on SeoulвЂ™s Mapo Bridge in the past decade that city officials placed suicide prevention messages on the handrails, some reading, вЂњYou are a good person.вЂќ Suicide has been the number one cause of death for young people since 2007, according to a 2020 report from Statistics Korea. South Korea has one of the highest suicide rates in the world. Credit cards with enormous limits are easy to obtain - and the impulse to use them is made worse by the intense competitiveness of South Korean society, Kwon and others said. The average Seoul household is $44,000 in debt, according to a 2018 study from the Seoul Institute. ItвЂ™s now almost double the US average, according to statistics from Nodutdol, a New York-based Korean diaspora organization.

Household debt in South Korea, where an average house can now cost upward of a million dollars, has skyrocketed in recent years and is now the highest in Asia. Kwon routinely went to school at 8am, not returning home until 11pm.Д«ut, despite all those years of study and hard work, South Koreans under 40 face daunting economic challenges. Kwon said the education system in particular - especially since the 1970s - was very tough on KoreaвЂ™s kids. But all that compressed capitalism made everything a little crazy.вЂќ вЂњThat eagerness to have a better life led them to do everything they could. вЂњSouth Koreans were so eager to have better times because we had to go through such hard times,вЂќ Jinah Kwon, a lecturer at the Graduate School of International Studies at Korea University told The Post. But by the end of 1996, the country had become the 29th member country of the OECD, which is made up of advanced countries.Д«ut South Koreans, especially millennials and the even younger generation, paid a price for such rapid growth in such a short amount of time, experts say. In 1953, more than half the population of South Korea lived in abject poverty and more than half were illiterate.

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Analysts of both South and North Korea told The Post the series illustrates the flip side of the so-called вЂњMiracle on the Han RiverвЂќ вЂ“ the astonishing rise of the South Korean economy since the end of the Korean War. вЂњSquid GameвЂќ didnвЂ™t come out of thin air. The desperation of debt in Korea was drawn on by вЂњSquid GameвЂќ creator Hwang Dong-hyuk (left). Earlier this month вЂњSquid GameвЂќ creator Hwang Dong-hyukВ confirmed he will make a second season. Unfortunately for Angela, the wildly popular and violent series about 456 desperate, debt-ridden South Koreans playing a series of childrenвЂ™s games to see who will survive and win a $38 million prize - and who will be shot in the head at point-blank range - is not going away. вЂњThere may be some truth to it but it also makes us (South Koreans) look badвЂќ 1 show on Netflix and a cultural juggernaut that shines a hard, if metaphorical, light on South KoreaвЂ™s high cost of living and the massive credit card debt and shame that goes along with it. вЂњI donвЂ™t ask but I tell him вЂno more money.вЂ™вЂќДЄngela said she hasnвЂ™t seen вЂњ Squid Game,вЂќ the No. She said she doesnвЂ™t know if he has credit card debt. She was less forthcoming about her son but said he lived above his means in a way that was foreign to her. SheвЂ™s hesitant to give details - and even asks that an alias be used rather than the American name sheвЂ™s known as in the salon - but told The Post she disapproved of the expensive handbags, makeup and clothes she found out her married daughter was buying. She still sends money to her older sister - but stopped giving funds to her son and daughter, both in their early 30s, about three years ago. вЂSquid GameвЂ™ fans mad at Chrissy TeigenвЂ™s theme party: вЂSo beyond tone-deafвЂ™ДЄngela, a 62-year-old owner of a Midtown nail salon, used to send some of her earnings back to some of her relatives in Seoul. вЂSquid GameвЂ™ knocked from top Netflix slot by new horror series вЂHellboundвЂ™ вЂSquid GameвЂ™ smuggler set to die by firing squad in North Korea: report Red light, green light: YouTuber recreates вЂSquid GameвЂ™ with enormous cash prize

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