Why has there been a bear market in South Korea over the past few days? Is it because of the bankruptcy of a South Korean exchange? Is it because of a crackdown on illegal scam markets in South Korea? Is it because of new legislation to regulate bitcoin?
I want to share another part of the story that goes back to the Korean myth 2333 BC to the first ancestor of the Koreans. At that time Hwanin “the Lord of Heavens” had a son who wanted to live on earth. The son's name was Hwanung. He was given permission to visit earth by descended on Bakdu mountain Korea's biggest mountain. During his rule on earth he was confronted by a bear and tiger who each wanted to be human. Hwanung took up their request and gave them a challenge. We all like challenges, right? This challenge was to remain in a cave for one hundred days eating only garlic and mugworts. Who do you think will win?
You are right. The bear won. The tiger couldn't stand it anymore and gave up after thirty days. And of course the bear stayed for the whole time until he was amazingly changed into a woman. Her name was Ugnyeo. She was thankful to Hwanung who made her human but she had a problem. She had no husband and no child. Hwanung recognized her misery and became her husband. Together they had a child named Dangun Wanggeom who became the ancestor of all Koreans, the son of a god of the heavens and a female bear who became human.
So ask me why I think Koreans have a bear market. Partly because this is Asia and we are confronted with thousands of faces everyday. If one person is doing something we all join. But there is more than the immediate picture. There is a an old story and tradition of the Korean bear-woman. So it would be natural to have bearish tendencies. If these tendencies have shifted the world market, my apologies. On the other hand consider this slight shift another Christmas present.
