Credit: Public Domain
Donghak Ant Movement 동학개미운동 is a neologism that refers to the Donghak Movement of the late 19th century and the “ant” investors, i.e. day traders. The Donghak Movement was the populist revolt against the late Joseon Dynasty characterized by corruption and decay. The word jokingly describes the phenomenon in which individual day traders are propping up the Korean stock market even as institutional investors, especially international investors, are pulling back due to the fears of an economic slowdown caused by COVID-19 pandemic.