Wealthy Population Surpasses 470,000, With Stocks Emerging as Top Investment of Choice (Image courtesy of Yonhap)
SEOUL, Dec. 15 (Korea Bizwire) — South Korea’s wealthy population continued to grow last year, exceeding 476,000 individuals with more than 1 billion won (about $760,000) in financial assets, according to a new report that highlights widening asset gaps and a renewed appetite for stock investments despite a climate of economic uncertainty.
The 2025 Korea Wealth Report, released Sunday by the KB Financial Group Research Institute, estimates that the number of high-net-worth individuals rose 3.2 percent in 2024, accounting for 0.92 percent of the national population. The figure has more than tripled since the survey began in 2011, increasing at an annual average pace of nearly 10 percent.
Total financial assets held by wealthy Koreans climbed to 3,066 trillion won last year, up 8.5 percent—almost double the growth rate for all households. These individuals now control more than 60 percent of the country’s total household financial assets. On average, each wealthy individual held 6.44 billion won in financial assets, up 310 million won from a year earlier.
The report also shows pronounced stratification among the rich. While 90 percent fall into the “affluent” tier with assets between 1 billion and 10 billion won, the number of “ultra-high-net-worth” individuals—those with more than 30 billion won—has expanded rapidly, growing at an annual rate of nearly 13 percent over the past five years.
Real Estate Softens but Stocks Soar as Korea’s Wealthy Shift Investment Strategy (Yonhap)
Shift Away From Real Estate
Although real estate remains the largest component of wealthy households’ balance sheets, its share has edged down. Wealthy Koreans allocated 54.8 percent of their assets to property and 37.1 percent to financial holdings. The dominance of real estate has softened slightly as demand for gold, digital assets, and other alternative investments increased.
Primary residences accounted for 31 percent of total assets, followed by liquid financial assets (12 percent), investment properties (10.4 percent), deposits and savings (9.7 percent), commercial buildings (8.7 percent), and equities (7.9 percent). Compared with the previous year, equities, deposits and other liquid assets saw modest increases, while property-related categories dipped amid a cooling real estate market.
A Turn Toward Stability—But Strong Returns in Stocks
Despite rising wealth, investment behavior has grown more cautious. The portion of wealthy investors who identified as aggressive or highly aggressive fell to 17.1 percent, while those favoring stability jumped to nearly half. Analysts cite political uncertainty and global volatility as drivers of this risk-averse tilt.
Yet many still posted gains: 34.9 percent reported positive returns over the past year, helped by a strong equity rebound and solid bond performance. Stocks delivered the highest rate of positive results, with 40 percent of respondents reporting gains, followed by funds, bonds and certain insurance products.
Wealthy Koreans now hold an average of 5.8 domestic and 4.9 overseas equity positions, continuing a multiyear shift toward global markets.
A Relentless Rally in the Stock Market (Image courtesy of Yonhap)
Stocks Seen as Most Promising Investment—Short and Long Term
Looking ahead, Korea’s wealthy overwhelmingly identified equities as the most promising source of near-term high returns, with 55 percent listing stocks as their top pick. Gold and jewelry followed at 38.8 percent, with residential property close behind.
In the medium term—three to five years—stocks remained the leading choice, selected by nearly half of respondents, a sharp rise from the previous year. Real estate and precious metals also ranked high.
Income from business operations (34.5 percent), real estate gains (22 percent) and financial investment returns (16.8 percent) were cited as the primary sources of wealth accumulation.
Ashley Song (ashley@koreabizwire.com)
