Seoul, November 14, 2014 : .The South Korean “rich” population with assets of 1 billion won ($847,000 or more grew by nearly 11 percent last year, largely due to stock gains.The number jumped 10.9 per cent to 39,300 as of last year, around 0.76 per cent of the country’s total population of 52 million, and the proportion of property in their portfolio has increased, apparently driven by soaring apartment prices, according to the Korea Wealth Report 2021 released by the KB Financial Group Research Institute.According to the Korea Wealth Report 2021, released by the KB Financial Group Research Institute, the number of people with property has increased by 10.9 percent to 39,300.This is approximately 0.76 per cent of the country’s total population of 52,000,000.
The total financial assets owned by the rich jumped 21.6 per cent on-year to 2,618 trillion won due to a surge in stock gains, Yonhap News Agency quoted the report as saying.According to Yonhap News Agency, the report said that the total wealth of the wealthy jumped 21.6 percent on-year to 2,618 trillion won.This was due to an increase in stock gains.
Among them, 59 per cent of the rich’s wealth portfolio was made up of property assets, while 36.6 per cent were invested in financial assets.59% of the wealth of the wealthy was made up property assets and 36% were invested in financial assets.
The rich allocated a larger percentage of their total assets in property on the booming local housing market, up from 56.6 per cent in 2020.The wealthy allocated more of their assets to property in the booming local housing market than they did in 2020 (56.6 percent).
Meanwhile, South Koreans who owned less than 1 billion won allocated 78.2 per cent in property assets and only 17.1 per cent in financial assets.South Koreans with less than 1 million won were allocated 78.1 percent in property assets and 17.1 percent in financial assets.
In a survey conducted on 400 wealthy South Koreans by KB, the number of active and aggressive investors who were willing to take a higher risk for high returns increased 5.2 per cent on-year, indicating that the tendency for risky investment among the rich grew over a year.A survey of 400 wealthy South Koreans was conducted by KB.It found that active and aggressive investors were more willing to take a higher chance for high returns than the year before.This indicates that there is a growing trend for risky investments among the wealthy.
Over 70.4 per cent of the wealthy Koreans were based in the capital and the greater Seoul area, with 45.5 per cent, or 179,000 individuals, living in Seoul.More than 70.4 percent of the wealthiest Koreans resided in Seoul and the capital.45.5 percent, or 179,000, lived in Seoul.
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