Wear a Red Tie, and Stocks Go Up Too? The Securities Industry’s Old Workday Ritual [Yeouido Now]

[Financial News] Even 15 years ago, red and orange ties were a conspicuous feature of the morning commute through Yeouido’s securities district. It was a small habit among securities professionals, who wanted to bring the good fortune associated with the red signal for rising stock prices into their work attire.
According to securities industry sources on the 24th, employees at securities firms back then often wore red or orange ties. Since rising stocks and indexes are shown in red on South Korea’s stock market, they regarded the color as bringing good fortune.
Orange-toned ties were said to be especially popular among employees of Hanwha Group-affiliated securities firms. The color suited Hanwha Group’s corporate image, and it also evoked hopes of a rising stock market, symbolized by red hues. At the time, red and orange ties from brands such as Ferragamo were said to be popular among office workers in the securities industry.
A securities industry source said, “In the past, many senior colleagues wore red or orange ties in the hope that the market would rise,” adding, “They would think of days when stock prices were marked in red and put meaning into their work clothes, too.”
As business-casual and tieless attire have become commonplace, the distinctive Yeouido sight of people wishing the stock market well through the color of their ties has become harder to see than it once was.
A securities firm official said, “These days, not many employees even wear ties to work, so hearing that this kind of culture existed may sound unfamiliar,” adding, “Still, people sometimes used to express their hope that the market would rise through the color of their ties.”
[email protected] Lee Jeong-hwa Reporter