Content area
Full Text
After midnight, when the crowds of revellers have gone, Choi Young-soo* crouches in a shabby alleyway in Seoul’s wealthy Gangnam district. This is the only time that the 35-year-old, a part-time food delivery rider, dare leave his tiny room at a cheap hostel he shares with about 30 other people.
The rooms, he says, are “only slightly bigger than coffins”.
In a fictional world, Choi would not be out of place among the contestants on Squid Game, the wildly popular South Korean dystopian drama that pits the heavily indebted against each other in a macabre, blood-spattered race for an unimaginably large cash prize.
But Choi’s desperate situation is real – he is one of a large and growing number of ordinary South Koreans who find themselves choked by debt, in a country where taking out a loan is as easy as buying a cup of coffee.
“I feel like other people sense that I’m a failure, so I only come out at night to smoke and watch the stray cats,” Choi says.
Squid Game, which was released on 17 September, is on track to become Netflix’s most-watched show ever, captivating viewers around the globe with its mixture of dark drama and commentary on the failures of South Korean-style capitalism.
Household debt in South Korea has risen in recent years and is now equivalent to more than 100% of GDP – a level not...