New fad among Korean teens to move up the social hierarchy

WITH property prices rising in South Korea, teenagers have found a new fad - introducing themselves as residents of luxurious apartments, even if they do not stay there.

Many teenagers are now reportedly putting names of luxurious apartments such as "Hannam The Hill" on their profile page of their social media accounts, hoping to move up the social hierarchy in the country.

According to the Hankook Ilbo daily, experts say this new fad reflected a deep-rooted sense of social hierarchy, partly due to surging property prices over the past few years.

The Hannam The Hill apartment complex is known as one of the most expensive in the country, with one unit having been sold for 8 billion won (US$7.06 million) in February.

It was also reported recently that BTS members RM and Jimin each bought Nine One Hannam apartments.

When Hankook Ilbo spoke to some of the teenagers on the issue, most of those who put up such profiles said they actually don't live in the places they posted, saying it was done just for fun.

The teens said they don't even know anyone who actually stayed in such complexes despite their postings.

Others said that by putting such profiles, it motivated them, similar to high school students using pictures of top universities as background images on their smartphones.

Experts however said it showed how the teenagers were caught up in South Korea's perniciously hierarchical social system.

"In the past, some teenagers despised their peers living in public rental apartments and used derogative terms about them.

"Now, the more prominent trend among them is having the positive view on the so-called 'flexing,' even admiring it," Hankook Ilbo cited popular culture critic Jung Duk-hyun as saying.

Originating from hip-hop culture, "flexing" is a term used among youngsters to show off about materialistic or money-based things, such as expensive cars, luxury goods, or in this case, coveted apartment complexes.

"No matter how hard one tries, it is difficult to become residents of those apartments. The trend is grounded in both a sense of humour and self-mockery," the critic noted.

Property prices in South Korea, especially in the bigger cities, have grown exponentially over the years.

It has become one of the main concerns of the government and the people, with many complaining that it was rising beyond the ability of ordinary folks to purchase them.

Adding to the problem is property speculation by foreign buyers and also the difficulty in getting bank loans to buy them.

Recently, the government has been amending the law to curb speculation and putting more conditions on bank financing for foreign buyers.

Related Articles