COVID-19 is causing huge economic and social damage worldwide. This study identifies factors that affect Korean consumers’ intent to participate in a specific consumer movement aimed at mitigating the economic impacts of the pandemic. An online survey was conducted with 620 adult consumers in Korea over eight days from May 18-25, 2020. The data were analyzed via structural equation modeling using the following factors: social support, social trust, optimism about overcoming the crisis, buycott participation motivation, and buycott participation intent. The results show that social support and social trust have a positive effect on the participation intent for buycotting through optimism about overcoming the crisis. Additionally, reciprocity and self-esteem motives increase buycott participation motivation. People who have been financially impacted by COVID-19 should be supported, and we remain optimistic about overcoming the crisis. We also need to encourage reciprocity and self-esteem motives though public advertising.