'Korea's Stock Market Craze'

How Should Korean Christians View the ‘Stock Market Craze’? The Church acknowledges individual property rights and rational economic activity... “Investment: Yes! Speculation: No!” The Catholic Times' Life in the World, Life in the Gospel column explains the issue.

Talk of stocks is everywhere. It has become a staple topic of conversation during lunch breaks at work and gatherings with friends. Stock investing is no longer the interest of a select few; it has become a financial activity deeply embedded in everyday life.  The issue lies not in stock investing itself, but in the speculative mindset that seeks quick, high returns or leads to unmanageable debt. 

We examine how the Church views stock investing and the mindset with which Christians should approach it. Father Bang Jong-woo of the Archdiocese of Seoul stated, “Legitimate investment occurs when it is accompanied by responsible choices regarding the mutual growth of individuals and companies, as well as considerations for the environment and quality of life.”

Young People Increasingly Investing with Borrowed Money. While stock investment has become a more widespread financial activity than in the past, the practice of investing with borrowed money is emerging as a serious social issue. This implies that individuals with limited disposable income are more likely to turn to debt-financed investing in hopes of achieving quick, high returns. 

Experts point out that in the current highly volatile stock market, such behavior borders on gambling rather than investing.   

The Church does not regard the act of investing itself as sinful. Father Bang Jong-woo (James) of the Archdiocese of Seoul—also a professor at The Catholic University of Korea—stated, "While the Church places great importance on the value of labor, it simultaneously recognizes individual property rights and rational economic activity." He added, "In its true sense, owning stock means holding a share of a company's ownership and providing capital for production; therefore, the Church does not view the act of managing assets and preparing for the future through investment as a sin." The Holy See also invests in stocks through the Vatican Bank. In 2022, it established a policy against investing in high-risk products—such as leveraged instruments—or in companies engaged in businesses that conflict with Church doctrine, such as the arms industry or gambling. 

In February of this year, the Vatican Bank announced the launch of two "Catholic value-based stock indices." These indices were created by rigorously evaluating corporate activities against the principles of Catholic social teaching to select the constituent stocks. The indices comprise 50 mid- to large-cap stocks, including major technology and financial companies. This demonstrates that the Church considers stock investment itself to be a legitimate form of financial activity. However, believers should reflect on whether their investment choices border on speculation. They ought to consider whether they have established ethical standards for the companies they invest in and whether they are investing excessive amounts beyond their means. Pastoral leaders advise that the "purpose and attitude" behind the investment are more important than the act of investing itself. 

“Investing to prepare for old age, build a family, or responsibly manage one’s assets can be legitimate; however, it becomes a serious problem if the value of labor is devalued as a result or if one becomes excessively obsessed with investment outcomes.” He added, “Legitimate investment is achieved when accompanied by responsible choices regarding the shared growth of individuals and companies, the environment, and the quality of life.” Investing with borrowed money— also raises ethical issues when viewed through the lens of Christian virtues. 

 “Investments aimed at a quick fortune—such as borrowing beyond one’s repayment capacity reflect a lack of ‘prudence,’ a core virtue in Catholic ethics.” He continued, “If debt incurred through investment grows to the point where it threatens a family’s or individual’s livelihood, it transcends a mere investment decision and harms the common good and the order of love; therefore, such practices should be avoided.”

Path to Happiness

[Asking St. Thomas Aquinas About the Path to Happiness] ‘Foretasting’ True Happiness Through Faith in a Society of Limitless Competition. Reported in the Catholic Times by a Catholic University Philosophy Professor.

Modern Korean society is engulfed in a vortex of unprecedented performance-driven culture and limitless competition. High suicide rates—among the highest in the OECD—and extremely low happiness indices clearly demonstrate the crisis facing modern people, who seek the meaning of their existence in volatile external factors such as material achievement, social status, and comparisons. 

A life wholly devoted to fleeting and unstable worldly values ​​inevitably leads to inner emptiness and existential anxiety, ultimately dismantling the very foundation of a truly human life. Amidst this crisis, the theology of faith presented by Thomas Aquinas offers more than mere religious comfort; it serves as a supreme strategy for establishing an unshakable inner foundation and recovering true happiness. 

Thomas identifies "blindness of mind" and "dullness of sense" as the causes behind humans losing the virtue of faith and failing to perceive spiritual good.  According to his sophisticated analysis, blindness of mind—stemming from lust —arises when the intellect harbors an aversion toward the spiritual principles it ought to pursue or becomes excessively attached to lesser values. Meanwhile, dullness of sense—stemming from gluttony—blunts the mind, thereby weakening the capacity to contemplate spiritual goods.

In Korean society, phenomena such as ceaseless social media comparisons, an obsession with appearance (exemplified by the normalization of plastic surgery), and a consumerist frenzy driven by an obsession with luxury goods beyond one’s means constitute a modern form of "blindness of mind" that narrows the intellect's lens. When one becomes immersed solely in sensory stimuli and instant gratification, the inner self fills with countless "sensory images," preventing it from dwelling upon higher truths.

In this context, the virtues of "temperance" and "chastity" serve as essential "purifying mechanisms" for restoring the integrity of intellectual activity. Temperance prepares the intellect to receive divine light by removing the sensory obstacles that powerfully pull human desire. What, then, is the "virtue of faith" that Thomas seeks to safeguard through these means? The Certainty of Faith Transcending Uncertain Variability.

Thomas defines "faith" as "a habit of the mind whereby eternal life is begun in us, making the intellect assent to what is non-evident". Here, faith is not merely an emotional stirring but a rigorous "act of the intellect." From an epistemological perspective, while faith lacks the clear intuition found in "knowledge" and "understanding," it is distinguished from mere "opinion" by its firm adherence. 

In particular, Thomas emphasizes the importance of ‘the power of example, which is stronger than words,’ within human action. When a believer sets an example of a holy life through the practice of love, it becomes a far more powerful means of restoring social solidarity and touching the hearts of others than mere argument or coercion. Faith, embodied by true love, allows one to discover their worth upon a divine foundation rather than through social achievements; this discovery inevitably leads to sharing with and dedicating oneself to one’s neighbors. This is the ultimate practical strategy for overcoming the isolation and alienation faced by modern society and for creating communal happiness.

The purification of the spirit, the certainty of faith, and the fulfillment through love—themes found in Thomas’s theology of faith—offer a steadfast and secure harbor to modern people exhausted by the cycle of endless competition. When faith is a commitment to the unseen, it becomes the "beginning of eternal life" within the individual’s inner self. Only when modern people abandon the shifting foundations of external achievements or the gaze of others and discover their true selves upon an inner, divine foundation can they break free from the cycle of endless competition and experience true freedom and happiness. As Thomas emphasized, a life that tastes the happiness of the future here and now through faith is the surest path to stepping out of the shadow of achievement-oriented culture and restoring one’s humanity.

Mary Magdalene

July 22 is the Feast of Saint Mary Magdalene. The music columnist for the Catholic Times gives us her thoughts on the Saint.          

The Gospels remember her as the woman who stood by the cross, the one who visited the empty tomb, and the witness who first met the Risen Lord. The Church calls Magdalene the "Apostle of the Apostles" because she was the first witness to convey the joyful news of the Resurrection to the Apostles.

In art history, Mary Magdalene was remembered in a different light: as the woman holding a jar of perfume and wiping Christ's feet with her loose hair, and as the woman washing away her sins with tears. This resulted from the overlap within the Western Church tradition between the "sinful woman" of the Gospel of Luke, Mary of Bethany, and Mary Magdalene. Although distinct from one another, many loved this complex and multifaceted Mary Magdalene.

Why were they drawn to the saint? Her story encompassed sin and grace, the secular and the heavenly, and the beauty of the body and the conversion of the soul. Baroque art enjoyed depicting the spiritual struggles and conflicts taking place within the human heart. Objects such as Mary Magdalene’s tears, perfume, jewels, mirrors, and skulls served as signs of vanity—and symbols representing the transformation of the soul. The popularity of paintings and music featuring Mary Magdalene as a theme during the modern period was due to the same reason. 

It is interesting to compare and appreciate the oratorios of the same name by two Italian composers of the same age, both born in 1670. Giovanni Bononcini (1670–1747) presented *Maddalena at the Feet of Christ* (*Maddalena ai piedi di Cristo*) in Modena in 1690. Here, Magdalena's heart serves as a kind of spiritual battlefield. Characters personifying "worldly love" and "heavenly love" argue over her heart. Worldly love whispers of worldly pleasures, while heavenly love persuades her to turn to Christ.

Antonio Caldara (1670–1736) also composed an oratorio of the same name. Released eight or nine years after Bononcini, this work portrays the inner world of Magdalena with even greater delicacy. Caldara’s version added Martha to the cast, expanding Magdalena’s conversion beyond internal conflict into a dynamic event unfolding within relationships and exhortations.

However, Mary Magdalene, whose name the Gospels clearly remember, is more than just a woman weeping at Christ's feet. In the Gospel of John, she mistook the resurrected Jesus for a gardener. But when Jesus called out, “Mary!”, she recognized the Lord.

“Do not cling to me any longer.” The Latin tradition translated this word of Christ as “Do not touch me (Noli me tangere).” The French philosopher Jean-Luc Nancy (1940–2021) also took note of this passage, which Church Fathers and theologians have long interpreted. For Nancy, the risen Christ is one who can no longer be touched or held. This is because 'presence' is revealed not through possession, but paradoxically through 'departure.' Thus, Mary Magdalene transcends being one who holds onto Christ to become a witness proclaiming the news of the resurrection.

The Prayer of Thanksgiving for the Feast of Saint Mary Magdalene liturgically confirms this: “The Lord appeared to Mary Magdalene in the garden, granted her the honor of the apostolic ministry before the apostles, and enabled her to proclaim the joyful news of the new life to the ends of the earth.”

This becomes clear in the contrast between Eve and Mary Magdalene in the garden presented by Pope St. Gregory the Great. “In Paradise, the woman became the cause of death for the man (cf. Genesis 3:6), and the woman who came out of the tomb proclaimed life to the men. Mary conveyed the words of the One who restored life, while Eve conveyed the words of the serpent that brought death.” 

The music of Bononcini and Caldara conveys the inner feelings of Mary Magdalene, who wept at Christ's feet. The Gospel reveals where those tears were ultimately meant to be directed. She wept outside the tomb, heard the Lord's voice, recognized Him, and proclaimed His word. The proclamation of the Resurrection was completed beyond mere touching and grasping, through the testimony of Mary Magdalene.

"Knowledge and Belief"

Modern academic theories arrive at the insight that knowledge and belief complement and depend on each other. While knowledge and belief possess their own distinct domains, they require one another. Knowledge without belief is arrogance, and belief that abandons knowledge is blind faith. So begins an article in the Korean Catholic Times by a Daejeon Diocesan Priest.

The reasons why knowledge requires belief are as follows. First, human reason knows what something is only if it presupposes a belief that trusts reason's cognitive capacity and its ability to grasp terms. Without this fundamental belief, no knowledge can be established. Second, academic pursuits primarily stem from insights gained through experience or experimentation. However, the scope of our experience is limited, and we cannot conclude that things will always remain the same simply because past observations have shown this.

For example, we learn the 'law of gravity' through countless experiences in which we see an object fall downward when released. However, strictly speaking, humans cannot prove with 100% certainty that objects will necessarily fall in the same way across all spacetimes of the past, present, and future. Nevertheless, we believe in the universality of gravity. This demonstrates that even the scientific knowledge we think we 'know' is based on a 'fundamental belief in the consistency of nature,' which holds that the order of the world will remain unchanged.

Third, no scholar starts their field from scratch but relies on the information of their fellow scholars. This is possible only on the foundation of trust. The development of medicine and science is based not only on the experimental spirit of reason but also on the cooperation and trust between teachers and students, and between previous and current generations.

Fourth, knowledge is directed toward the understanding of reality and seeks the ultimate source of existence, which is the cause of causes and transcends individual reality. This ultimate source cannot be experienced empirically and requires only personal interest based on trust. 

Worldviews and religious views differ depending on what this ultimate source is called and how it is treated. If one objectively calls this inexpressible reality 'Nothingness,' 'First Cause,' or 'Ultimate Reality,' and stops there, one becomes a philosopher or intellectual lingering before the mystery of existence. However, one who calls this reality 'God' or 'Lord,' acknowledges the limitations of human knowledge, and enters into the mystery of this God with faith, becomes a theologian or a person of faith obtains something greater than what knowledge can offer. 

Ultimately, when the human pursuit of knowledge and existence reaches its final zenith, one encounters personal responses and trust that transcend mere proof. This is a realm that demands not mere theoretical agreement, but a personal commitment involving one's entire being. Saint Teresa of Carmel (Saint Teresa of Jesus) and Saint John of the Cross demonstrated great faith at this very point. Passing through the desperate self-emptying known as the night of the senses and the night of the spirit, they met God, the ultimate source of existence, personally with great faith. Their lives and experiences prove that faith beginning at the end of knowledge is by no means a vain obsession, but the surest path to reaching reality

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Korean Farmers' Life

 

Extreme weather, aging population... Deteriorating farming conditions: "Institutional support is needed to safeguard life-sustaining agriculture."

Farmers are facing a multitude of simultaneous challenges due to the climate crisis, including poor crop growth, reduced yields, rising production costs, and worsening working conditions. The Catholic Farmers' Association emphasizes the need to advance a "Life Community Movement"—in which the Church joins in protecting life—while continuing "life-sustaining agriculture" that revitalizes the ecosystem through pesticide-free and organic farming methods. 

On July 9, in Yeoncheon-gun, Gyeonggi-do. Farmers were hurriedly drying potatoes in anticipation of sudden rain, while work in the fields had been underway since dawn to avoid the scorching heat. Foreign seasonal workers, filling the labor shortage during the busy farming season, moved back and forth across the fields, constantly wiping away sweat. The phrase most frequently heard from the farmers that day was, "The weather isn't what it used to be."

We live in an era where extreme weather events—such as unprecedented heatwaves and torrential rains—threaten even our daily lives. Farmers are the ones who endure these changes firsthand. Rural communities face the threat of extinction due to population decline and aging, while our food supply... Agriculture is increasingly swayed by the logic of the market and capital, losing sight of the value of life.

Amidst this reality, the Catholic Farmers’ Association (CFA) has been practicing agriculture that prioritizes the value of life and revitalizes the land, water, and ecosystem. Rather than relying on pesticides and chemical fertilizers, they champion "life-affirming agriculture"—an alternative approach that respects natural cycles and aims to pass on a sustainable habitat to future generations.

To respond more effectively to the changing climate and agricultural ecosystem, the CFA recently established a "Production Standards Task Force (TF)." This initiative aims to develop regulations for new farming methods and support successor farms, thereby laying the foundation for farmers to continue practicing life-affirming agriculture in the field. Furthermore, the association plans to survey farms affected by the climate crisis and strengthen solidarity with other organizations to realize climate justice.

These efforts are a continuation of the farmers' movement the CFA has led for the past 60 years. The association began as a movement to protect farmers' rights to survival and their interests, ensuring their right to a dignified life. Following market liberalization in the 1990s, it expanded its scope to include the protection of food sovereignty; more recently, it has evolved into a movement dedicated to safeguarding safe food and the value of life itself.

However, life-affirming agriculture cannot be sustained by farmers' efforts alone. If farmers produce crops while upholding the value of life, the Church and consumers must respond by choosing and consuming these products, thereby standing in solidarity with rural communities. This is why there are growing calls to move beyond a movement led solely by farmers toward a "Life Community Movement"—one in which the entire Church responds to the climate crisis and transforms its way of life.

The Chaplain of the Catholic Farmers’ Association (Diocese of Jeonju) said, " As a concrete measure, the Movement to Revitalize Our Rural Communities proposed expanding 'Our Farm' distribution centers within parishes. The aim is to secure stable sales channels for farmers while making it easier for the faithful to access agricultural products grown through "life-sustaining agriculture."

"This is a tangible way to practice Christian love," adding that "the Church plays a crucial role in connecting farmers with consumers and expanding market access for produce." He continued, "The diocese must establish a system to listen directly to the difficulties farmers face and work together to resolve them," emphasizing the need to "pay greater attention to the realities of rural areas and the importance of agriculture, and to expand pastoral care for rural communities."

Institutional support from the government is also essential for life-sustaining agriculture to take root. "While the government steps in with price subsidies or increased imports to stabilize prices when agricultural costs rise, mechanisms to protect farm income often fail to function adequately when prices fall." He stressed, "State-level support and institutional improvements are necessary so that farmers can continue practicing life-sustaining agriculture with peace of mind."

Farmers' Sunday: A Day in the Life of a Korean Farmer

July 19th marks the 31st Korean Farmers' Sunday. On this day, the Church empathizes with the hardships faced by rural communities and reflects on the value of farmers and agriculture. 

Today, rural areas face unprecedented challenges due to the climate crisis—which makes predicting farming schedules and crop yields increasingly difficult—and are compounded by an aging population, rising production costs, and labor shortages. 

Nevertheless, driven by a sense of responsibility to protect the land that sustains life, farmers quietly continue to cultivate their fields. 

A reporter for the Catholic Times visited "Anttre Farm" in Yeoncheon, Gyeonggi-do, run by a member of the Catholic Farmers' Association and gave this report.

Choi Seong-sun, a member of the Catholic Farmers' Association has been operating Anttre Farm in Misan-myeon, Yeoncheon-gun, Gyeonggi-do, for 39 years. 

"It hasn't even been ten years; it was only two or three years ago that the ultraviolet rays became so intense. The sunlight doesn't just feel hot—it stings. It feels like your skin is actually cooking. "Choi, who has run Anttre Farm for 39 years, says the sunlight has changed noticeably in recent years. Her day begins at 5 a.m. She works in the fields until noon, rests to avoid the midday heat, and heads back out around 4 p.m. During the hottest part of the day, it is impossible to even consider entering the plastic greenhouses.

“Even at dawn, the ‘feels-like’ temperature seems to easily exceed 25 degrees Celsius. When tropical nights persist, the heat that built up overnight lingers right into the morning.”

Climate change is altering not only farmers' working hours but also their methods. Even by splitting work between early morning and late afternoon, the window of time available to avoid the heat is shrinking. 

The changing climate also directly affects crop growth. Predicting the timing for sowing and harvesting has become difficult, and crops frequently fail to develop the size and shape characteristic of their variety. This year, the mini sweet pumpkins at Anttre Farm grew as large as standard sweet pumpkins; fruit that should have been the size of an adult’s fist grew to the size of a child’s face.

“In the past, sweet pumpkins planted in the spring would yield a steady harvest through autumn, but now it’s hard to gauge how long they’ll keep producing,” Choi said. “This year, the mini pumpkins are unusually large, and the yield seems higher than last year’s.”

However, larger crops or higher yields are not necessarily good. Agricultural produce needs to meet specific size and shape standards for its variety to be considered marketable. In effect, changing climate patterns have made it difficult to predict crop yields and quality, even for farmers with years of experience.

Mrs. Choi cultivates around 20 types of vegetables—including mini sweet pumpkins, potatoes, chili peppers, cucumbers, eggplants, cabbages, lettuce, and radishes—on a plot of land spanning approximately 3,000 *pyeong* (about 2.4 acres). Ten years ago, upon joining the Catholic Farmers' Association, she transitioned from conventional farming methods that relied on pesticides to a pesticide-free approach.

While mini sweet pumpkins are the primary crop, she also grows a variety of other crops to meet market demand. Her harvested produce reaches consumers through local food sections at nearby markets, contracted partners, the "Sharing Center" community run by the diocese’s Movement to Revitalize Our Rural Communities, and direct-sales markets like the Myeong-dong Market.

Pesticide-free farming demands far more labor than conventional methods. Without herbicides, weeds must be pulled by hand, and pests must be removed manually. As the weather grows hotter and more humid, weeds and insects proliferate even faster.

There were times she wanted to give up on pesticide-free farming. Yet his sense of responsibility as a member of the Catholic Farmers' Association—a commitment to upholding "life-sustaining agriculture"—drew her back to the fields.

"Of course, there were moments when I wanted to go back to the old ways. But someone has to practice pesticide-free, eco-friendly farming to supply the consumers who seek it out. That sense of mission is what keeps me going."

Cardinal Lazarus You Heung-sik answers reporters questions

Cardinal Lazarus You Heung-sik, Prefect of the Dicastery for the Clergy, answers reporters' questions during a press conference on the 3rd at the Catholic Bishops' Conference of Korea in Seoul, as reported by Catholic Newspapers.

Cardinal Lazarus You Heung-sik, Prefect of the Dicastery for the Clergy, who returned to Korea for the first time in a year, held a press conference with about 40 journalists on the 3rd at the Catholic Bishops' Conference of Korea in, Seoul. He shared his thoughts on peace on the Korean Peninsula, the possibility of a papal visit to North Korea, and preparations for the 2027 World Youth Day (WYD) in Seoul.

Recounting a meeting with the Pope during a special gathering of cardinals in Rome on June 26–27, Cardinal You conveyed the Pope's request to "send greetings to everyone I meet in Korea." He also mentioned the Pope's remark that his meeting with President Lee Jae-myung had been a comfortable and relaxed occasion.

Regarding the possibility of a papal visit to North Korea, Cardinal You stated, "It depends entirely on North Korea's attitude," adding that he consistently conveys to the Pope the Pontiff's deep interest in the pain caused by the division of the Korean Peninsula. He noted, "While there is Jangchung Cathedral in North Korea, there is no resident priest," and suggested that "having a resident priest—at least for the sake of Catholic diplomats—would play a significant role in creating an atmosphere conducive to practical exchange." He further remarked that "developments in North Korea-U.S. relations will also have an impact," emphasizing that "if even a small door opens, we must work to widen it."

Regarding preparations for the 2027 Seoul WYD, he reported that the Holy See and the Korean Church are cooperating closely and that the process is proceeding smoothly. Cardinal You emphasized the importance of diocesan events and homestays, stating, "Above all, it is crucial that young people visiting Korea leave feeling they have received great love from the Korean Church and its people." Regarding support from the government and local authorities, he highlighted issues concerning transportation, accommodation, and visas. Cardinal You noted that "it is difficult for young people from impoverished nations to enter Korea" and requested government cooperation to resolve difficulties in obtaining visas. Addressing how other religious groups view the passing of the WYD ordinance, he stated, "Looking at past WYD events, the benefits to the nation itself far outweighed the government assistance provided," emphasizing the need to focus on the positive transformations seen in young people.

Regarding the trend of young people drifting away from religion, he remarked, "We must reflect on whether it is the young people who have left the Church, or if the Church has let them go." Cardinal You emphasized, "Priests should not start by thinking about where to put young people to work; instead, they must first listen to what the youth desire and ensure they feel loved."

On the issue of declining priestly vocations, Cardinal You described it as "a challenge the entire Catholic Church must resolve." He added, "The shortage of vocations is a symptom of the Church's overall difficulties," noting that "vocations can be revitalized when we return to the Gospel and bear witness to the beauty of a life lived according to the Gospel."

He also touched upon the role of religion in the age of AI. Cardinal You stated, "The world becomes dangerous if AI becomes the master," asserting that "humans must remain the masters, while AI serves as a capable assistant and tool." He further noted, "The Holy See is paying close attention to ensuring that AI is utilized in ways that benefit humanity without undermining human dignity and values."