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Woori Financial Management Research Institute 4,000 survey results … 650 million net assets
This year’s net worth of the top 10-30% of income brackets increased by approximately 23 million won from last year. It is an increase due to an increase in asset prices.
This was investigated in a report on “Wealth Management and Digital Finance Use Behavior of Rich People” published on the 6th by the Woori Financial Management Research Institute. The report was released based on a September-October survey of 4,000 households across the country with annual incomes of 70 million to 120 million won before taxes, which is the top 10-30% of household income.
The average total assets of the survey subjects was 665 million won, and the average net worth excluding debts of 191 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 20 million won (24.1%) to 126 million won.
Among assets in the top 10-30% of income brackets, the share of deposits and savings (45.0%) for financial assets decreased 5.0 percentage points from last year, while the share of stocks ( 15.4%) increased 3.0 percentage points.
The number of respondents with stocks increased 11.3% from 1862 last year to 2099 this year. However, indirect investment products such as derivative-linked funds and holders of securities fell 13.5% and 11.7%, respectively.
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%. .
/ Reporter Cho Hyuk-shin [email protected]
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