Wealthy households show significant asset growth in Japan and South Korea

Recent data highlights shifting wealth patterns among affluent populations in Japan and South Korea. In Japan, according to the 2024 National Survey of Family Income and Expenditure, households with total net assets (including land and buildings) exceeding 100 million yen account for 6.4% of all households. The average net asset value stands at 31.56 million yen, with a median of 16.22 million yen. When looking strictly at financial assets, households with 75 million yen or more represent 3.3% of the population.

In South Korea, analysis from the Shinhan Card Big Data Institute reveals that the ‘mass affluent’—those with financial assets between 100 million and 1 billion won—saw their assets increase by 27% over a 20-month period ending in August 2024. This group significantly outpaced general customers, whose assets grew by only 9%. High-net-worth individuals with over 1 billion won saw a 54% increase.

A notable trend among South Korean affluent groups is the shift from bank deposits to equity investments. For instance, among the mass affluent in their 20s, time deposits fell by 34% while stock assets surged by 139%. This movement toward securities is observed across most age groups, driven by robust market conditions.