Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
INTERVIEW YouTuber behind buzzword 'Donghak Ants'
YouTuber Sosofutureboy analyzes stock market charts in his video clip uploaded on March 6. / Captured from YouTube
By Park Jae-hyuk
By Park Jae-hyuk
The “Donghak Ants Movement” is perhaps the buzz-phrase that has hit the local stock market news headlines most frequently over the past month.
The term is a parody of the “Donghak Peasant Movement,” which occurred in Korea in the late 19th century to overthrow feudal overlords and foreign invaders. The new play on words has been widely used to describe the recent buying spree of retail investors at the Seoul bourse, which was in stark contrast to the foreigners' selling spree that came after the stock market plunge at the start of the COVID-19 pandemic.
The phenomenon has become a nationwide sensation, since a massive amount of stock purchases were made in March by retail investors, who are often called “ants” because of their active trading style and small investments.
However, not many people are aware of that the term was coined by a 32-year-old YouTuber.
Sosofutureboy, who introduced himself as a certified public accountant dealing in stocks, first used the term the “Donghak Ants Movement” in his YouTube video uploaded March 6.
The “Donghak Peasant Movement has occurred in the stock market,” he said in the video clip. “Feudal overlords are institutional investors, and foreign invaders can be likened to foreign investors. Retail investors started the movement to take control of the stock market.”
Since then, his parody has gone viral on a variety of internet forums and YouTube channels.
On March 27, Hana Financial Investment analyst Kim Yong-ku published a report titled “The ants will win,” saying in the report that “It is time to think about the meaning of the monumental buying spree of retail investors in the local stock market, which is being called the Donghak Ants Movement.”
In a recent email interview with The Korea Times, the YouTuber, who declined to give his real name, said it was amazing to see that the term he coined has been mentioned in various kinds of media.
“As I often do parodies when designing my YouTube thumbnails, I didn't expect that this would become so popular when I first made it,” he said.
“Because not many people know that I coined the term, I do not enjoy any great popularity.”
In the 19th century's Donghak Peasant Movement, the rebel army was finally defeated by the government that allied with Japan and the Qing Dynasty, and most of the rebel leaders were executed in a mass hanging.
When asked whether he believes the “ants” can defeat foreigners, the YouTuber gave a positive response.
“Although it is impossible for all individuals to enjoy profits, I hope as many investors as possible get their investment returns, based on long-term and sound investment philosophies,” he said.
“It looks like many retail investors got into the stock market at the right moment.”
However, he also warned investors of the ongoing volatility in the stock market.
“Although there was a sharp increase because of hopes of a coronavirus peak and the resumption of economic activities, I think the stock market will repeat its ups and downs when worsening economic indicators and crises in emerging markets come to the fore,” he said.