“The net assets of households with the highest 10-30% income increased by KRW 210 million from last year.”

This year’s net assets of the top 10-30% of income brackets were found to have increased by approximately 231 million won from last year due to the increase in asset prices.

According to a survey conducted in September-October, the Woori Financial Management Research Center surveyed 4,000 people nationwide, who are households with an annual income of 70-120 million won (the top 10-30% family income). On the 6th, a report was published on wealth management and digital finance usage behavior of the wealthy.

The average total assets of the survey subjects was 766 million won, and the average net worth excluding debts of 119 million won was 644 million won.

The proportion of financial assets and real estate assets over total assets stood at 18.9% and 76.6%, respectively, and the phenomenon of “real estate concentration” continued. Real estate assets increased by 76 million won (14.3%) from last year to 690 million won, and financial assets increased by 24 million won (24.1%) to 126 million won.

The total amount of debt was the same as last year, but the balances of cheonsei loans and credit loans (including card loans) increased.

The most notable change in the asset portfolio in the top 10-30% of revenue was the increase in equity participation.

The share of deposits and savings among financial assets (45.0%) decreased 5.0 percentage points compared to last year, while the share of shares (15.4%) increased 3.0 percentage points.

The number of respondents who owned shares increased 11.3% from 1862 last year to 2.99 this year. However, indirect investment products such as derivative-linked funds and holders of securities fell 13.5% and 11.7%, respectively. The trend towards direct investment has become clear.

They responded that they expected to increase the share of shares by 1.7 percentage points from the present to expand to 17.1% of the portfolio of financial assets and decrease the share of deposits.

They used to be more risk-oriented than last year.

Last year, low-risk stability-seeking and stability-seeking rates accounted for about 60%, but this year’s share was down to 41.2%, and active and aggressive investment rates increased by 10 percentage points with respect to the previous year to 33.7%.

This appears to be due to the financial environment in which risk taking has become unavoidable to obtain the previous level of profits due to lower market interest rates, according to the research institute. Commercial bank deposit rates fell from 1.59% in the third quarter of last year to 0.84% ​​in the third quarter of this year.

After the coronavirus outbreak, the use of digital finance among the top 10-30% of income groups has become more active.

44.3% of those surveyed responded that their use of digital finance has increased since the Corona 19 incident, and the proportion of experienced users of non-face-to-face asset management channels, such as the Internet and mobile applications, has increased significantly from 11.0% last year to 56.5% this year.

Furthermore, 95.1% of the respondents use financial applications and 73.8% of them use online channels for financial transactions.

The simple transaction type using only simple functions such as transfer and inquiry was only 19.5%, while the product investment type using only financial product subscription, loan application and administration was 53.0%, and the administration type of assets using the asset management service was 27.3%. .

They responded that ‘Kakao Bank’ (27.8%) is the most anticipated digital financial services brand in the future, and their expectations for ‘Naver’ (13.4%) were also high.

[우리금융경영연구소 보고서 캡처]

[우리금융경영연구소 보고서 캡처]

Yunhap news