Summary of Key Points
This article discusses the chain reaction triggered by the AI boom: the surge in demand for High Bandwidth Memory (HBM) due to AI has led to skyrocketing prices for memory and hard drives worldwide, with gamers being among the first victims. South Korea, due to its monopoly on the HBM market, has seen record-breaking semiconductor exports and a stock market that briefly outperformed others globally, creating the illusion of a "Golden Age for Korean Girls." However, the reckless use of leverage by individual investors ultimately led to a market crash, with the bubble bursting in just three weeks. The article also includes amusing anecdotes from the investment community and comparisons between domestic Chinese investors and South Koreans, concluding with gamers' hopes for lower hardware prices.
1. Why Have Memory and Hard Drive Prices Suddenly Become Unaffordable?
Have you noticed that when buying a new phone or computer recently, the specifications seem to have decreased despite the same budget? A gaming laptop that cost 7,999 yuan last year with 32GB of RAM and 1TB of storage now costs 9,999 yuan but only comes with 16GB of RAM and 512GB of storage, and it's even out of stock. This is partly due to the impact of AI. AI requires a type of "high-speed memory" called HBM, which is much faster than regular memory, and over 90% of the world's HBM production is controlled by South Korean companies Samsung and SK Hynix. As AI companies compete to purchase HBM, these two firms raise prices, driving up the costs of both HBM and other types of memory and hard drives (factories prioritize producing the more profitable HBM). This has resulted in gamers being unable to afford the computers needed to play AI-enhanced games, making them the innocent victims of this trend.
2. How Quickly Did South Korea's Stock Market "Golden Dream" Crumble?
After South Korean semiconductors became popular, the stock market exploded: the KOSPI index soared from 4,300 points at the beginning of the year to 9,300 points within half a year, outperforming markets worldwide. Individual investors used high leverage (borrowing money to invest), with some doubling their profits or losing all their money in just a 10% fluctuation. However, on June 23, the market crashed, dropping by 30% to 6,500 points in one month, forcing many leveraged investors to liquidate their positions automatically and lose all their investments. The crash was caused by several factors: rapid price increases that created a bubble, the withdrawal of foreign capital, and the high leverage levels of individual investors, which made them vulnerable to market volatility. The so-called "Golden Age" was merely an illusion fueled by a bubble that lasted for only three weeks.
3. Why Is the Story of the "Golden Age for Korean Girls" Seen as a Metaphor for Illusory Success?
The popular story on Chinese social media about Korean girls using their salaries to invest in the stock market and earn five years' worth of income is actually used to mock the concept of "illusory success" (the idea that everything abroad is better). It emerged after South Korea's national football team won its first match in the World Cup, and some people linked football to the country's prosperity, indirectly criticizing China. In reality, the money these girls earned was part of a bubble that could be completely lost if the stock market crashed. When the team lost two subsequent matches and was eliminated from the tournament, the illusion of national success vanished. The term "illusion" is apt; any prosperity built on a bubble can easily collapse.
4. How Much Humor and Heartache Are Hidden in Those Investment Jokes?
The article's jokes reflect real-life situations:
- "The person who regrets it the most now is the one who affected their family": This phrase, originally from the cryptocurrency community, has become a cliché for those who have lost their retirement savings or down payments on homes due to poor investments.
- Bloggers exaggerating their losses for traffic: Short-video bloggers frequently claim to lose tens of thousands of yuan daily, attracting viewers because their stories seem more dramatic than those of ordinary people.
- Gamers in online forums: Young adults who make big profits quietly keep it to themselves but cry out in frustration when they lose money, unable to stand watching others succeed more quickly than them—this is human nature.
- The phenomenon of South Korean "gamblers": Parents use their underage children's accounts to invest in the stock market (tax-free), with high leverage being the norm. In contrast, Chinese investors are relatively more cautious and rarely use leverage, at most using it as a means of expression.
5. Finally: When Will Memory and Hard Drive Prices Drop?
The article concludes by focusing on gamers' concerns: Regardless of the state of South Korea's stock market or the popularity of AI, what people really want to know is when memory and hard drive prices will return to normal. After all, gamers just want to buy a computer they can afford at a reasonable price, not bear the cost of AI-related infrastructure developments.
This article uses a lighthearted tone to connect the issues of AI, semiconductors, the stock market, and gamers' challenges, explaining economic principles while resonating with ordinary people. After all, who hasn't been affected by rising hardware prices or heard complaints about failed investments? The core message is simple: even the most attractive bubbles will burst, and investors should avoid using too much leverage. We'll have to endure these hard times until memory and hard drive prices stabilize.