Some 497,000 people aged 15 to 29 in February said they were
on a break from employment and not actively seeking work, showed
Statistics Korea data, the most since records began in 2003.
Some experts cautioned that exchanging data for the
opportunity to earn pennies could involve sensitive personal
information being shared with third parties.
"While the effort to make pocket money is commendable, it
could also leave people vulnerable to personal data use," said
Lee Eun-hee, a consumer studies professor at Inha University.
"It would be wise to consider both sides of the coin."
($1 = 1,318.79 won)
(Reporting by Hyunsu Yim; Additional reporting by Ju-min Park;
Editing by Christopher Cushing)
(Refiles to correct company name in paragraph 2)
By Hyunsu Yim
SEOUL, April 24 (Reuters) - 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.
Retiree Han Sun-jae, 77, said he had made some 50,000 won
($37.91) so far through the Toss app.
"My daughter works nearby and told me many people were
gathering here, and that I could make more money here," he said
outside the Seoul Museum of Art, where office workers gathered
at lunchtime based on rumour and grapevine chitchat.
The trend shows people are going the extra mile to help
overcome an increasingly dire economic situation, experts said.
The consumer inflation rate hit 5.1% in 2022, the highest
since 1998, with food and transport prices up 5.9% and 9.7%
respectively.
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