Koreans still prefer real estate investment: data
Apartment complexes in Seoul (Yonhap)
As of end-2019, the proportion of financial assets in the wealth of Koreans was 35.6 percent, significantly lower than those in the US (71.9 percent), Japan (62.1 percent), UK (54.8 percent) and Australia (43 percent), according to data compiled by Korea Financial Investment Association.
Reliance on nonfinancial assets by Koreans stood at 64.4 percent, followed by Australians with 57 percent. Americans and Japanese held 28.1 percent and 37.9 percent, respectively, of their assets in nonfinancial properties, the data showed.
While Korea’s nominal gross domestic product stood at 1,924.5 trillion won ($1.7 trillion), its household wealth…