According to a survey conducted in South Korea in December 2020, about 31 percent of millionaires who reported being in debt said their debts were between 100 and 300 million South Korean won. While the average debt of the millionaires surveyed was about 280 million South Korean won, about 74 percent of the respondents reported having no debt.
Share of millionaire households with debt in South Korean in 2020, by value of debt
(in million South Korean won)
*Millionaires are defined here as individuals who conduct transactions with domestic banks and have financial assets of one billion South Korean won or more.
1,000 South Korean won equals 0.83 U.S. dollars or 0.74 euros as of March 2022.
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Hana Institute of Finance. (March 8, 2021). Share of millionaire households with debt in South Korean in 2020, by value of debt (in million South Korean won) [Graph]. In Statista. Retrieved December 26, 2024, from https://www.statista.com/statistics/1296474/south-korea-millionaire-households-with-debt-by-value-of-debt/
Hana Institute of Finance. "Share of millionaire households with debt in South Korean in 2020, by value of debt (in million South Korean won)." Chart. March 8, 2021. Statista. Accessed December 26, 2024. https://www.statista.com/statistics/1296474/south-korea-millionaire-households-with-debt-by-value-of-debt/
Hana Institute of Finance. (2021). Share of millionaire households with debt in South Korean in 2020, by value of debt (in million South Korean won). Statista. Statista Inc.. Accessed: December 26, 2024. https://www.statista.com/statistics/1296474/south-korea-millionaire-households-with-debt-by-value-of-debt/
Hana Institute of Finance. "Share of Millionaire Households with Debt in South Korean in 2020, by Value of Debt (in Million South Korean Won)." Statista, Statista Inc., 8 Mar 2021, https://www.statista.com/statistics/1296474/south-korea-millionaire-households-with-debt-by-value-of-debt/
Hana Institute of Finance, Share of millionaire households with debt in South Korean in 2020, by value of debt (in million South Korean won) Statista, https://www.statista.com/statistics/1296474/south-korea-millionaire-households-with-debt-by-value-of-debt/ (last visited December 26, 2024)
Share of millionaire households with debt in South Korean in 2020, by value of debt (in million South Korean won) [Graph], Hana Institute of Finance, March 8, 2021. [Online]. Available: https://www.statista.com/statistics/1296474/south-korea-millionaire-households-with-debt-by-value-of-debt/
