South Korea’s young rich vs old rich: Coin, art outpace bonds, funds

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The story "South Korea’s young rich vs old rich: Coin, art outpace bonds, funds" was covered 2 days ago by Korea Economic Daily, a news publisher based in South Korea.

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South Korea’s young rich vs old rich: Coin, art outpace bonds, funds - Korea Economic Daily

Quick Summary:

Young South Korean millionaires, placing bold wagers on unconventional financial assets such as cryptocurrencies and art, are gaining ground fast, growing in number at twice the rate of their older counterparts, who remain anchored in traditional assets like bonds and funds.

According to “2025 South Korea Wealth Report” released by Hana Bank’s Hana Financial Research Institution on Wednesday, the number of the young rich aged 49 and under -- those holding at least 1 billion won ($704,000) in bank deposits -- grew twice as fast as the older wealthy generation aged 50 and above.

FLIGHT TO SAFE HEAVENS As a rocky road is ahead for the economy this year, wealthy individuals are expected to flock to safe-haven assets this year, according to the survey.