Watching economic news is the first activity in the daily routine of a 12-year-old boy from South Korea.
Yes, you did not misread. This kid known as Kwon Joon aspires to be ‘the next Warren Buffett’ after earning a profit of 43% of his hobby he did since last year which was buying shares.
Joon persuaded his mother to open a trading account in April last year using his savings of $ 22,400 as start-up capital after the benchmark KOSPI index began to show recovery from its biggest decline in a decade.
"I really talked to my parents about it because I believe an expert who said this is a rare opportunity in a decade.
"My idol is Warren Buffett. Instead of trading for a short period of time, I want to keep my investment for 10 to 20 years with a long-term perspective, hoping to maximize profits, ”said Joon.
Joon has also made a list for his future stock purchases. Among the stocks targeted by Joon are Kakao Corp, Samsung Electronic Co and Hyundai Motor.
According to a Reuters report, retail investors in South Korea comprising teenagers or children currently account for two-thirds of the country's total trading value, compared to less than 50% in 2019.
The trend developed after the equity market was seen to be successful in 'attracting' the parents who are disappointed with the country's education system as well as those who work from home.
"I wonder nowadays, whether a degree will be very important," said Joon's mother Lee Eun-joo, who nurtured her spirit by exposing Joon to the business world.
In addition, Eun-joo is also worried that even though her son was sent to the best school but still can not afford to get a job due to lack of job opportunities in South Korea.
The situation also seems to be understood by Joon himself.
"Instead of going to the best university like Seoul National University, I am more interested in becoming an investor.
"I also hope to do more charity work," said Joon.
