Individuals stroll throughout Gwanghwamun Sq. in central Seoul, Sunday. Yonhap
The variety of Koreans holding greater than 1 billion gained ($676,818) in monetary belongings rose greater than 3 p.c final yr to almost 480,000, a report confirmed Sunday.
Based on a wealth report by the analysis institute of the KB Monetary Group, an estimated 476,000 people held at the very least 1 billion gained in monetary belongings as of end-2024, representing 0.92 p.c of the whole inhabitants.
The determine marked a 3.2 p.c enhance from a yr earlier and greater than tripled from 130,000 in 2011, when the survey started.
Their mixed monetary belongings totaled 3,066 trillion gained, up 8.5 p.c from a yr earlier, accounting for 60.8 p.c of whole family monetary belongings nationwide.
“The expansion fee of the rich people’ monetary belongings was almost double that of general family monetary belongings,” the institute stated. “Wealth accumulation among the many wealthy has been markedly sooner than among the many basic inhabitants.”
The report confirmed that 32,000 individuals held monetary belongings value between 10 billion and 30 billion gained, whereas 12,000 people owned greater than 30 billion gained value of monetary belongings.
Based on in-depth interviews by the institute with 400 rich people carried out in July and August, 54.8 p.c of their belongings had been allotted to actual property and 37.1 p.c to monetary belongings.
Requested about their funding efficiency over the previous yr, 34.9 p.c stated they posted positive aspects, up 2.7 share factors from final yr, amid a robust native inventory market.
Wanting forward, 55 p.c of the respondents cited shares as essentially the most promising funding over the following yr, adopted by gold and jewellery with 38.8 p.c and residential housing with 35.5 p.c.
Shares additionally topped the checklist of essentially the most enticing longer-term funding choices, chosen by 49.8 p.c of the respondents, which marked a pointy enhance from final yr’s 35.5 p.c, the report stated.
