This photo, taken on April 16, 2021, shows signs showing the price movements of bitcoin and other virtual currencies on a local exchange. (Yonhap)
SEOUL, Nov 15 (Korea Bizwire) - Wealthy South Koreans tend to view cryptocurrency investments negatively and chose stocks as a promising investment option for long-term gains, a report showed on Sunday.
In response to a question asking if they intend to invest in cryptocurrencies, 70 percent said they had no intention of investing in cryptocurrencies, indicating their negative perception of such investments, according to the published 2021 Korea Wealth Report. by the KB Financial Group Research Institute. .
The institute surveyed 400 wealthy Koreans with financial assets of more than 1 billion won (US $ 847,000).
About half of those who said they had no intention of investing in cryptocurrencies noted that such investments have a higher risk of loss.
"The wealthy, in general, have a preference for the method of making a profit by actively trading the assets they own," the report says.
"They have no affinity for cryptocurrencies since their risk rate is beyond the acceptance range and there are doubts about the reliability of the transactions."
Among those surveyed, 60.5 percent selected stocks as an investment option with promising long-term returns.
Meanwhile, the wealthiest Koreans' biggest asset was foreign funds (75 percent), and China was selected as the most favored investment region.
The share of those who invest in works of art remained low at 4.8 percent, mainly due to difficulties in judging their value and managing and storing them after purchase.
JS Shin (js_shin@koreabizwire.com)
