"Why Is My Life Like This?"... Anxious 'FOMO Syndrome' Fearful of Being Alienated and Left Behind

"Am I the Only One Not Doing It?"... MZ Generation Shaken by Failure and Fear
Engulfed by Anxiety or Blindly Following Others
Experts Say "Establish Your Own Values to Foster Maturity"

Recently, the 'FOMO syndrome' has been spreading through social media and investment fever. FOMO syndrome refers to the anxiety caused by feeling left behind and excluded.

[Asia Economy Culture Young Intern Reporter] A, a young adult in their 20s who is just starting their career, spends all day staring at Instagram. A, who accesses SNS on their phone whenever they get a chance, said, "I'm curious about how others live. These days, everyone seems to be going to water festivals, but I feel like I'm the only one not going," adding, "Am I failing to keep up with trends? I keep comparing myself to others."

Situations like A's, where one constantly compares themselves to others and feels anxious, are referred to as 'FOMO syndrome.' FOMO syndrome is a compound word combining 'FOMO'?an acronym for 'Fear of Missing Out'?and 'syndrome,' describing the anxiety of feeling left behind, isolated, or excluded. Some experts point out that FOMO syndrome can lead to SNS and stock addiction.

◆ 'FOMO Syndrome' Spreading Mainly Through SNS

FOMO syndrome mainly appears on 'SNS.' Seeing travel photos or delicious food pictures posted by others can cause feelings of relative deprivation and the belief that one is falling behind trends.

Especially, the MZ generation, familiar with SNS use, is known to be more vulnerable to FOMO syndrome compared to other age groups. This is because young people in their 20s and 30s easily form relationships through SNS and can readily compare others' realities with their own. Summarizing the situation, they lament by comparing themselves to others’ realities, which they do not fully know. For example, sometimes people go to festivals not to enjoy them but to show off to others through SNS.

Professor Kwak Geum-ju of the Department of Psychology at Seoul National University explained, "Young people need to feel stability through a sense of belonging to peer groups or gatherings, but the MZ generation tends to feel alienated and anxious due to a lack of belonging." She added, "Although they get stressed by comparing themselves to others on SNS, they find stability in participating in and enjoying hot places and trends together."

It is known that some people invest in stocks or cryptocurrencies due to FOMO syndrome. This is a type of 'blind investment' that can lead to significant losses and potentially cause financial crises.
[Image source=Yonhap News]

◆ "Everyone else is doing it..." Reckless Stock and Coin Investments Without Preparation

B, a third-year office worker, invested the money they had saved over the past year in stocks. B, who also invested their entire severance pay from their previous job, said, "Everyone else is making money from stocks, so I felt foolish for just saving money." They added, "After seeing colleagues make money through investments, I plan to try various investments by watching videos uploaded on YouTube."

Paul Krugman, Nobel Prize-winning economist, identified FOMO syndrome as the reason why stock and coin investments continue despite the economic downturn caused by COVID-19. Professor Krugman said, "Everyone is rushing into the stock market because they think they will lose out if they don't join when everyone else is doing it."

Experts warn that blindly investing large sums of money by following others without prior knowledge or strategy can lead to financial risks. They also suggest that the most effective way to overcome FOMO syndrome is to reduce the frequency of SNS use.

Professor Kwak said, "People want to feel a sense of belonging to groups that make money through stocks," and regarding ways to reduce FOMO syndrome, she emphasized that "discerning selection is important." She added, "It is most important to establish your own values and cultivate knowledge and maturity," and "You should only refer to others' opinions and think about what you truly want."