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May 2020

South Korea: Consumers prefer installment savings plans

Source: Asia Insurance Review | Nov 2017

South Korea Life & Health

Most South Korean financial consumers still prefer safer choices such as instalment savings plans, despite the current low interest rates and a booming stock market.
   Nearly half (49.6%) of the respondents selected savings and instalment savings as their preferred investment strategy, up from 48.8% last year to 49.6%, reported Korea Bizwire, citing the findings of an online survey conducted by pollster NICE R&C with a sample of 19,300 people aged between 20 and 64 in July and August.
   However, the survey also found that the more assets respondents had, the stronger interest they had in real estate investment. Among the respondents, 18.8% said they preferred to invest in real estate, followed by direct investment such as stocks, which accounted for 11.8%, and insurance, which accounted for 10%. A 
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