Recently, the term Generation MZ has become one of the most frequently used terms in Korea. Generation MZ is a new term in Korea that refers to the combination of the Millennial generation (Generation M), born between 1981 and 1995, and Generation Z, born between 1996 and 2012. Though not everyone is the same, most people in this group know how to express their thoughts genuinely, and their characteristic of knowing how to value the happiness of their lives are being used as memes in many Korean entertainment programs and media contents.

According to a report by the Bank of Korea, Generation MZ is expected to occupy the largest portion of the Korean population for a considerable period of time, but they are more vulnerable than previous generations in terms of income, assets, debt, and consumption.

We are all aware of the fact that Generation MZ shows a different preference system from previous generations, and is emerging as the key demographic of our economy. There is a possibility that their relatively weaker economic situation compared to previous generations will have some negative impact on the future economy. Therefore, it is necessary for the government to continuously check the influence of the MZ generation's lifestyle and influence on the economy, while continuing policy efforts to increase income and reduce debt.

On the other hand, the characteristics of Generation MZ could also give a brighter solution. Generation MZ, who pursues 'fun' and 'convenience' overall, is enormously changing the financial industry.1) Although they still have relatively smaller assets and income, they are active in consumption and investment with bold loans. They also led the rise of stocks and cryptocurrencies with ‘loans that debt for the soul’. As a member of Generation MZ, I wish deep luck for everyone who is struggling to lead a graceful life in difficult times.

1) [Naver Encyclopedia] MZ Generation [MZ Generation] (Hankyung Economic Dictionary)