The wealth management industry in South Korea is in good health, benefiting from rising numbers of affluent people who have a desire to invest their assets and get even richer. According to the Asia-Pacific Wealth Report 2015, published by Capgemini and RBC Wealth Management in September, South Korea has the fifth-largest population of high-net-worth individuals (HNWIs) in the region. The total was 189,000 at the end of 2014, 6.8% higher than at the end of 2013. As for the investable wealth held by HNWIs, South Korea ranks seventh in the region. The total wealth invested amounted to $5l6bn at the end of 2014, 8.2% higher than at the end of 2013. These are respectable statistics, but they must be put in perspective. "While comprising many markets, Asia-Pacific is a concentrated region when it comes to HNWIs, with more than three-quarters of the region's HNWIs in the top three markets of Japan, China and Australia," says David Wilson, head of strategic analysis at Capgemini Financial Services.
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