🇰🇷 Korean retail is going full degen mode — dumping insurance & savings for equities

Life insurance surrenders: +16%

Savings insurance cancellations: +23%

Savings bank deposits: 4-year low

Major bank time deposits: -₩12T in 2 months

Why? KOSPI went parabolic:

2024 EOY: 2,700 → Now: 7,800

+190% total / +85% YTD

Even 3.24% deposit rates can't compete with equity euphoria.

Koreans are literally canceling life insurance to chase stocks. This is peak risk-on sentiment — when retail dumps safety nets for beta, you know liquidity is chasing momentum hard.

Watch this space. When the music stops, redemption waves hit fast. 👀