Number of 'MZ Generation' Mass Affluent Surging: "Investment, Not Savings, Is Key"

Asset Building Approaches Differ Across Generations... Investment-Focused
Expanding Into Virtual Assets and Overseas Stocks

The proportion of so-called 'mass affluent' individuals-those with assets exceeding 100 million won-who are Millennials & Gen Z has surged significantly.

According to the '2026 Korea Financial Consumer Trends' report released by Hana Institute of Finance on October 29, the share of Millennials & Gen Z among those with assets over 100 million won rose from 19.8% in 2022 to 33.6% last year. This means that one out of every three mass affluent individuals now belongs to the Millennials & Gen Z demographic.

There have also been changes in asset composition. Whereas asset management previously focused on 'accumulating wealth through savings,' the emphasis has recently shifted toward 'growing assets through investments' such as stocks, virtual assets, and overseas investments.

Over the past three years, the proportion of savings assets declined from 45.4% to 42.7%, while the share of investment assets steadily increased from 27.7% to 32.2%. The report analyzed that "the full-scale entry of Millennials & Gen Z into the investment market is transforming asset management trends."

By generation, Generation Z (born after 1991) saw the proportion of investment and virtual assets in their portfolios rise to 26.3% year-on-year, with an average deposit amount of 9.59 million won. Millennials (born 1981-1990) had the highest investment share at 34.8%, with an average deposit amount of 29.91 million won.

In contrast, Generation X showed only a slight increase, while the Baby Boomer generation saw their investment share drop to 28%, highlighting clear generational differences.

The financial competency of Millennials & Gen Z, including relevant knowledge and decision-making skills, is also gradually improving. Survey responses indicating that individuals 'consistently check economic and financial information' increased over the past year. Self-assessments of 'the ability to make rational investment decisions' also showed a greater rise among Millennials & Gen Z compared to other generations.

The institute projected, "Next year, there is a stronger tendency to view the stock market more positively than real estate," and added, "The proportion of overseas stock trading is also continuing to grow."