This file photo taken Jan. 17, 2023, shows an official checking 50,000 won (US$37.91) banknotes at a Bank of Korea branch in Suwon, Gyeonggi Province. (Pool photo) (Yonhap)
SEOUL, April 9 (Korea Bizwire) — South Korea’s superrich had an average of 32.3 billion won (US$24.5 million) of assets last year, and their yearly income came to about 1.23 billion won, a report showed Sunday.
The Hana Institute for Finance, affiliated with major lender Hana Bank, defined the superrich in its report as those whose net assets totaled 30 billion won or more or those whose financial assets came to at least 10 billion won.
The average assets of the superrich group came to 32.3 billion won in 2022, down by around 5 billion won from a year earlier, with their financial assets reaching 16.1 billion won, according to the report.
Of their financial assets, cash assets accounted for 58 percent, more than double from the previous year’s 25 percent, while the proportion of their stock assets fell to 16 percent from 45 percent.
Their real estate holdings declined to 15.6 billion won in 2022 from 20.6 billion won over the one-year period amid the home market rout, the report showed.
Their annual income came to around 1.23 billion in 2022, with the comparable figure for rich people, which referred to those having more than 1 billion won in financial assets, standing at 330 million won.
Around 3 out of every 10 superrich people ran a business, and 20 percent were doctors, lawyers and those in specialized professional fields.
They spent 370 million won per month on average last year, the report showed.
The institute did not specify how many people were in the superrich group, though the report was written based on the survey of 2,013 people last year.
(Yonhap)
