hankyoreh

By Kim Kyung-wook
 
It has been estimated that there are over 130 thousand ‘super-rich’ who own financial assets worth over 1 billion won ($863 thousand) with the total value of their assets reaching 324 trillion won ($270 billion).
Mirae Asset fund management released on Sunday a report on the number of super-rich people as well as their wealth after analyzing the statistical data from the Bank of Korea. They calculated the numbers under the premise that the super-rich hold 40% of their assets as savings, saying that it considered those who had savings more than 500 million won as the super-rich with financial assets worth more than 1 billion won.
Included in the super-rich category was 86 thousand people with savings of more than 500 million won and 10 percent of 470 thousand people with savings between 100 to 500 million won. The total value of the assets held by the super-rich is assessed at least 324 trillion won which is the balance of all the savings more than 500 million won.
According to data collected as of end of June, there were 86 thousand savings accounts that has exceed 500 million won and the total value of these accounts was assessed to be 324 trillion won. These numbers are a 4,000 increase in accounts and a 12 trillion won increase from the end of last year.
On the other hand, the total value of financial assets of domestic households is decreasing rapidly. According to a report on third quarter money flow (tentative figure) released by Bank of Korea on December 15, the total value of household financial assets has decreased by 41 trillion won ($35 billion) during the 3rd quarter of this year. This statistics constitute the basis of the argument that bi-polarization of financial assets is deepening.
(Translated by Kim Joon-ki, Intern)

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