The household net worth per capita increased 1.6% to KRW 244.27M last year

Last year, the net worth per capita, excluding debt, was about KRW 240 million, up 1.6 percent from the previous year. While the real estate downturn led to a decline in housing prices, the stock market boom resulted in a slight increase in net worth.

According to the 'Korean National Balance Sheets for 2023' released by the Bank of Korea and Statistics Korea on Thursday, the net worth held by households and non-profit institutions serving households (NPISHs) totaled KRW 12,632 trillion at the end of the year, up 1.7 percent (about KRW 210 trillion) from the previous year. While housing assets fell by KRW 147 trillion during the year, financial assets rose by KRW 233 trillion due to increasing stock prices. In 2022, household net worth decreased for the first time since the statistics were compiled due to a real estate slump, but it returned to growth within a year.

Household net worth comprised 50.3 percent housing, 25.2 percent non-housing real estate, 19.1 percent cash and deposits, and 11.5 percent insurance and pensions. Per capita household net worth was estimated at KRW 244.27 million, reflecting a 1.6 percent increase from 2022 (KRW 240.39 million).


조응형 yesbro@donga.com