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Office workers checking the local online banking app Toss during a lunch break
The economy is great because of democracy or a rules-based order or whatever.
But save those cents.
Throngs of people have been milling seemingly aimlessly around the forecourt of a museum in central Seoul, brushing silently past each other with heads bent toward smartphones while fingers frantically tap screens – in the latest money-making trend.
Walking 10,000 steps, completing tasks such as subscribing to social media, or just tapping the screen when other users are nearby can generate up to 10 cents a time for users of financial services app Toss from South Korean startup Viva Republica.
The viral campaign has seen Toss become a frontrunner in a trend where businesses win users through cash- and points-offering loyalty apps, which have risen in popularity in an economy with high youth unemployment and surging inflation.
As many as three in four adults earn cash through such applications, showed a recent survey by job portal Incruit.
“I’ve only made 150 won ($0.11) so far, but I plan to continue so I can buy coffee or pay for something using the app,” said 27-year-old office worker Baek Na-young.
Some 4.4 million users have used Toss’ cash-giving in-app feature since its January launch, and the number of times people open the app on handsets has increased 30%, Viva Republica said.
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The trend shows people are going the extra mile to help overcome an increasingly dire economic situation, experts said.
They should just do a real Squid Game, no?
People love that Squid Game.
