August 09, 2021 13:08
A stock market frenzy that started last year means that Koreans now have more than 50 million brokerage accounts or almost one for every person in the country.
According to the Korea Financial Investment Association on Sunday, there were 50.03 million active brokerage accounts in Korea as of Aug. 5, surpassing the 50 million mark for the first time ever.
The number of accounts surged by 10 million over the last five months alone.
The number of retail investors in Korea stood at 9.14 million last year, up by almost 3 million compared to 2019 as the Korea Composite Stock Price Index surpassed 3,300 points this year and sparked to a gambling frenzy.
Retail investors bought W69 trillion worth of Korean stocks in the first six months of this year, more than the entire amount of stocks they bought in all of 2020 (US$1=W1,143).
- Copyright © Chosunilbo & Chosun.com