What is richness to a billionaire? “You have to have 10 billion.”

‘2021 Korea Wealth Report’

As the stock market boomed last year, it was analyzed that there were more than 390,000 ‘rich’ with more than 1 billion won in financial assets. Six out of 10 wealthy people selected stocks as a promising investment destination, while negative perceptions of virtual currency investment were high. According to the survey, these rich people think that they need to have 10 billion won in total assets to be rich.

According to the ‘2021 Korea Rich Report’ released on the 14th by KB Financial Group’s Management Research Institute, the number of people with financial assets of 1 billion or more stood at 390,000 last year, up 10.9% from the previous year. The fact that the KOSPI soared 30.8% from 2198 at the end of 2019 to 2,73 at the end of last year is interpreted to have had the effect of calling for financial assets. Their total financial assets totaled 2618 trillion won, a 21.6% increase from the previous year, recording the highest growth rate since KB Financial started compiling the statistics in 2011.

Financial assets over 1 billion, over 390,000
10.9% increase year-on-year on booming stocks
Stocks preferred as a high-yield expected investment destination
Intention to invest in virtual currency, only 3.3%

Real estate accounted for 58.2% of the total wealth of the wealthy in Korea, and finance accounted for 36.3%. Compared to the ratio of real estate assets and financial assets of ordinary households to 78.2% and 17.1%, respectively, the proportion of financial assets of the wealthy is more than double that of ordinary households. The report said, “In the case of ordinary households, most of the assets consist of a house with a market value of several hundred million won and financial assets, so the proportion of real estate appears to be higher than that of the wealthy.”

Due to the rise in housing prices, the share of residential housing in the wealth of the wealthy has risen to 29.1%. It was followed by liquid financial assets (12.6%), buildings and shopping malls (10.8%), non-residential housing (10.6%), stocks, REITs, ETFs (8.8%), and deposits (8.1%). The proportion of residential housing (3.0 percentage points) and stocks (3.0 percentage points) increased compared to the previous year.

Among financial investment assets, preference for stocks stood out. The response rate of increasing the amount of stock investment was 40.0% this year, higher than last year’s 28.3%. 31.0% of the respondents said that they would increase their investment in stocks in the future, and 6 out of 10 people (60.5%) chose stocks when asked about an investment where high returns are expected. On the other hand, only 3.3% of the respondents were willing to invest in virtual currency. The intention to invest in virtual currency was 4.0% for those with less than 3 billion won in financial assets and 1.0% for those with more than 3 billion won. As for the reasons for reluctance to invest in virtual currency, ‘the risk of investment loss is high’ (50.7%) ranked first, ‘because you cannot trust the virtual currency exchange’ (34.3%), ‘because you do not know much about virtual currency’ (32.9%), etc. was followed by

About 70% of these wealthy people are concentrated in the metropolitan areas such as Seoul, Gyeonggi, and Incheon by region. It was analyzed that 45.5% of them lived in Seoul, almost half, and 70.4% lived in Seoul, Gyeonggi, and Incheon. Even within Seoul, 45.7% of them were concentrated in the 3 districts of Gangnam, Seocho, Gangnam, and Songpa.

In this report, individual interview surveys conducted on a total of 600 people from June 1 to July 16, the Bank of Korea money circulation table, Statistics Korea’s household financial welfare survey, the National Tax Service’s comprehensive taxation statistics on financial income, and KB Financial customer data are included in this report. The estimation model used was used.


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