Younger Koreans' Net Assets Dwindle

      January 11, 2018 11:43

      The net assets of Koreans in their 30s and 40s are shrinking, prompting concerns that they are poorly prepared for retirement.

      Choi Jang-hoon at the Korea Insurance Research Institute in a report on Sunday urged people in the age group to calculate their post-retirement expenses and adjust present spending patterns.

      The net assets of people in their 30s and 40s fell from W224.5 million in 2010 to W216.5 million in 2015, down 3.6 percent (US$1=W1,071).

      The value takes inflation into account.

      The main reason for the decline was a drop in the size of non-financial assets, such as real estate, and jewelry. But financial assets grew slightly by W900,000. 

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