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The two biggest stories of 2021 in South Korea were a cutthroat presidential nomination and the nationwide outcry over soaring housing prices. Both the ruling and opposition parties had gone through a noisy and murky nomination process. In 2021, housing prices continued to rise, causing citizens’ anxiety and anger to reach their peak, and the president apologized for the failure of the real estate policy. Despite the maladministration, president Moon Jae-in, unlike previous presidents, did not become a lame duck. Meanwhile, the popularity of Hallyu, or the Korean Wave, continued with the success of the movie Minari, K-pop band BTS, and the Netflix drama series Squid Game.
Chang et al. (Sat,) studied this question.