Young South Koreans Turn to Stocks for Retirement, Reaching 13.4% in Their 30s
Updated
Updated · en.sedaily.com · Sep 10
Young South Koreans Turn to Stocks for Retirement, Reaching 13.4% in Their 30s
2 articles · Updated · en.sedaily.com · Sep 10
Summary
13.4% of South Koreans in their 30s and 12.8% in their 20s said stocks and bonds were their retirement plan last year, up from 2.8% and 2.6% in 2011.
That shift accelerated after the 2021 retail-investing boom: the shares jumped from 1.4% and 2.7% in 2019 to 11.6% and 11.3% in 2021, then kept rising.
Older groups also increased their use of financial assets for retirement, but more slowly—reaching 8.0% in their 40s, 6.0% in their 50s and 3.1% among those 60 and over.
71.0% of Koreans 19 and older still rely on the national pension and 44.1% on deposits or savings products, showing stocks remain a secondary retirement tool.
John Lee, head of John Lee's School of Wealth, said stock-based retirement planning works only with long-term investing, warning that constant short-term trading amounts to gambling.