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S. Korean households' net assets rises in 2023

SEOUL
2024-07-18 13:43

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SEOUL, July 18 (Xinhua) -- South Korean households' net assets rose last year on the back of the stock market boom, joint data from the statistical office and the central bank showed Thursday.

The average per-capita net assets, possessed by households and nonprofit organizations, were valued at 244.27 million won (176,850 U.S. dollars) at the end of 2023, up 1.6 percent from a year earlier, according to joint data by Statistics Korea and the Bank of Korea (BOK).

The total value of net assets, owned by households and nonprofit organizations, gained 1.7 percent to 12,632 trillion won (9.15 trillion dollars) last year after sliding 1.4 percent in the previous year.

The value of non-financial assets inched down 0.4 percent on lower housing prices, but the value of financial assets increased 4.7 percent due to the local stock market boom.

The benchmark KOSPI closed at 2,665.3 at the end of 2023, up 18.7 percent from a year earlier.

The proportion of property value to the total value of net assets, owned by households and nonprofit organizations, declined to 75.5 percent last year from 77.1 percent a year earlier.

The holdings of cash and deposits accounted for 19.1 percent of the total net assets.
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