Financial assets of the so-called “mass affluent class,” defined as those with financial assets between 100 million and 1 billion Korean won, have seen a significant shift over the past 1 year and 8 months, with bank deposits decreasing and stock assets surging. This trend was particularly pronounced among those in their 20s.
According to an analysis by the Shinhan Card Big Data Research Institute of financial asset changes among Shinhan Financial Group customers, assets deposited with Shinhan Bank and Shinhan Securities increased by approximately 29% from the end of December 2024 to August 2026.
The growth rate accelerated with higher asset levels. Customers with financial assets under 100 million Korean won saw a 9% increase, while the mass affluent class (100 million–1 billion Korean won) grew by 27%, and high-net-worth individuals (over 1 billion Korean won) surged by 54%. The growth rate for high-net-worth individuals was six times that of general customers.
Among the mass affluent class, a clear trend emerged: bank deposits declined while stock assets rose. Notably, individuals in their 20s saw term deposits decrease by 34%, while stock assets surged by 139%. Those in their 30s and 40s also reduced deposits by 28% and 29%, respectively, while stock assets increased by 124% and 107%. Even those in their 50s and 60s saw deposits fall by 22% and 11%, respectively, with stock assets rising by 113% and 129%. In contrast, individuals aged 70 and older were the only group where both deposits (10%) and stock assets (151%) increased.
Shinhan Card stated, “The data confirms a structural shift where customers who already hold assets above a certain scale have grown their wealth more rapidly. It is estimated that the choice to reduce deposits and fill securities accounts has emerged across all generations amid the winding down of the high-interest rate era and the recovery of the asset market.”
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