Lotto, a Dream to Make a Fortune at One Stroke

Lotto spreads an epidemic throughout the country, making people dream to make a fortune at one stroke.

As everyone tries to buy Lotto and it becomes common for workers to organize a fraternity to buy the lottery, there is no wariness that thinks of lottery as a sort of gamble. Some also worried that Lotto epidemic shall strain values of those who have observed law and social system sincerely and demotivate people.

On the 4th, Lotto sales amounts record 27.9 billion won, making a new all-time high continuously. If this tendency continues, prize for the winner this week will amount to over 70 billion won including the sum carried forward from the last account. Related agencies are also taken aback by this unexpected enthusiasm for Lotto.

The professor of economics of Korea University Lee Man-woo said, “Even though Lotto is to raise a public fund, this overheated tendency is apparently problematic. Measures to prevent side effects should be prepared.”

Experts also point out that it is wrong for the government to allow a gamble and other than setting up an economic stimulus packages amid descending saving rates and increasing home debts.

Korea`s saving rates in 2001 was 17.7%, which is 2.2% point down from the previous year and the lowest since 1975 (16.7%). Besides, the balance of home loan amounts to 445 trillion and 300 billion won, which is up 103 trillion and 600 billion won (30.3%). It is 87% of GDP, which is larger than the U.S.A or Japan (82%).

Jin-Young Hwang Chi-Young Shin buddy@donga.com higgledy@donga.com