wealth Archives | Be Korea-savvy
S. Korean Wealth Creators Accumulate 1.57 bln Won Until Retirement

S. Korean Wealth Creators Accumulate 1.57 bln Won Until Retirement

SEOUL, Jan. 14 (Korea Bizwire) — South Korean wealth creators accumulate an average of 1.57 billion won (US$1.4 million) through savings and investment, a recent study revealed. Standard Chartered Bank Korea Ltd., the local unit of Britain-based banking giant Standard Chartered PLC., joinly conducted a survey of 1,000 wealth creators in Seoul and Busan. They [...]

Online Shopping Spreads Wealth Across the Nation

Online Shopping Spreads Wealth Across the Nation

SEOUL, Dec. 12 (Korea Bizwire) — A study has shown that the spread of wealth among regions is evident as existing brick-and-mortar stores are moving online. A research team from Seoul National University, which contributed to a recent report from Naver Corp., South Korea’s biggest internet portal, analyzed the results of a survey of 1,485 [...]

Different Strokes for Different Folks When It Comes to Happiness

Different Strokes for Different Folks When It Comes to Happiness

SEOUL, Nov. 1 (Korea Bizwire) — A new study has found that people who are financially well off typically find more happiness in through experiences such as attending performances and travelling, while those who are less well off find happiness in consuming products such as electronic goods or clothing. According to a research team led [...]

South Korea’s Average Wealth Level Similar to that of Western Europe: Report

South Korea’s Average Wealth Level Similar to that of Western Europe: Report

SEOUL, Oct. 24 (Korea Bizwire) — An international financial research institute has published a report stating the average wealth of Korean adults is approximately 200 million won. According to the “Global Wealth Report 2018” published by Credit Suisse Research Institute (CSRI), the average monetary assets held by adult Koreans totaled $171,740, which was equivalent to [...]

Research Shows Family Background Linked to Educational Success

Research Shows Family Background Linked to Educational Success

SEOUL, Aug. 24 (Korea Bizwire) — The Korea Economic Research Institute held a seminar on August 23 regarding social mobility and education, where Professor Lee Joo Ho of the Korea Development Institute presented his findings on the correlation between children’s school grades and a family’s economic, social and cultural standing (ESCS). His research was based [...]

South Korea Sees Widening Wealth Gap Between Leadership Class and Average Households

South Korea Sees Widening Wealth Gap Between Leadership Class and Average Households

SEJONG, April 10 (Korea Bizwire) – The average wealth of South Korea’s leadership class – public officials, lawmakers, and high-ranking judges – was almost six times higher than members of the general public, recent data showed. According to Sunday’s asset disclosures released by the Government Public Ethics Committee, the Supreme Court of Korea and the [...]

Occupation and Wealth Play Vital Role in Korean Marriage: Study

Occupation and Wealth Play Vital Role in Korean Marriage: Study

SEOUL, Nov. 14 (Korea Bizwire) – A recent study has shown that permanent employees with higher wages have a higher chance of marriage in Korean society, indicating that the country’s unstable job market with a high percentage of temporary positions (22.4 percent, 2013) is contributing to a low marriage rate and declining birthrate.  According to [...]

Income Polarization Apparent as Student Loans Soar

Income Polarization Apparent as Student Loans Soar

SEOUL, Oct. 10 (Korea Bizwire) – Recent data has shown that the polarization of wealth has grown more apparent for youth as an increasing number of college students are struggling under the burden of student loans, while a chosen few thrive with their inherited fortunes. According to the Korea Student Aid Foundation, 2.51 million college [...]