韓国における資産運用市場：2004 年版

Overview

Introduction

Datamonitor's Wealth Management in South Korea 2004 focuses on the onshore liquid wealth of mass affluent and high net worth customers in South Korea. It provides detailed analytical views of macro-economic background, retail savings and investments, mass affluent and high net worth individuals, competitive dynamics, customer preferences and forecasts.

Scope

• The macroeconomic and savings and investment data was collected directly from governmental sources such as the Bank of Korea
• Insight into the South Korean financial services market was obtained through in-depth interviews with wealth managers and private bankers
• Sizing and forecasting of mass affluent and high net worth individuals were generated from Datamonitor's proprietary Global Wealth Model

Report Highlights

Banks believe that the local market for private banking has a lot of promise and here Datamonitor is in agreement. As was evidenced earlier, in 2003, there were 42,000 individuals in South Korea with more than USD750,000 in investible assets.

The purchase of KorAm bank, gives Citigroup first mover advantages as the first foreign bank to gain a significant footing in the Korean market. Its acquisition, gives it a significant head start in tapping the relatively nascent Korean wealth management market.

South Korea's high net worth population is expected to grow at an average annual rate of 9.9% and the number of high net worth individuals in South Korea will reach 270,200 by 2008.

Reasons to Purchase

• This report forecasts the market to 2008, allowing competitors to plan strategies on the basis of detailed market information
• Allows foreign wealth managers to assess the attractiveness of the market and to pick out opportunities
• Helps competitors plan products and services by giving key information on their customers' financial services preferences

CHAPTER 1 EXECUTIVE SUMMARY

• Introduction
• What is this report about?
• Market overview
• Retail savings and investments
• Wealthy individuals
• Customer focus
• Competitive dynamics
• Future decoded

CHAPTER 2 INTRODUCTION

• What is this report about?
• Who is the target reader?
• How to use this report

CHAPTER 3 MARKET OVERVIEW

• Introduction
• Macroeconomic overview
• GDP growth
• Inflation
• Interest rates
• Stock Market Cap
• Market size
• Retail liquid savings and investments
• Deposits
• Direct Bond investment
• Mutual fund investment
• Direct equity investment
• Income inequalityand the Gini index
• Affluent wealth
• Mass affluent individuals
• Number of individuals
• Onshore liquid wealth
• High net worth individuals
• Number of individuals
• Onshore liquid wealth
• Data

CHAPTER 4 CUSTOMER FOCUS

• Products and services
• Offshore investment
• Taking stock
• Hot property
• Other popular products
• Structured products
• Beneficiary certificates
• Investor Preference
• Fees
• Investment horizons
• Domestic exposure
• Population profile
• Age and diversity
• Target segments
• Expatriate Koreans
• Foreign population
• Entrepreneurs
• Data

CHAPTER 5 COMPETITIVE DYNAMICS

• Introduction
• Competition
• Extra-banking services
• The competitors
• The four major banks
• Kookmin Bank
• Woori Bank
• Hana Bank
• The smaller national players
• Korea Exchange Bank
• KorAm Bank and Citibank
• Securities companies
• Foreign players
• Standard Chartered
• HSBC
• ING
• Opportunities?

CHAPTER 6 FUTURE DECODED

• Introduction
• Forecast assumptions
• Economic outlook
• Retail savings and investments growth
• Wealthy individuals
• Mass affluent individuals
• Number of individuals
• Onshore liquid wealth
• High net worth individuals
• Number of individuals
• Onshore liquid wealth
• Data

CHAPTER 7 APPENDIX

• Definitions
• AAGR
• Advisory portfolio management
• CAGR
• Discretionary portfolio management
• The responsibility for buying and selling investments is delegated to an investment manager. The client grants the investment manager the authority to transact on their behalf, without seeking approval for every trade.
• Gini index
• High net worth (HNW)
• An individual holding USD300K or more of liquid assets.
• Liquid assets
• Liquid asset bands
• Mass affluent
• Datamonitor uses this term to refer to individuals who are of above average wealth, but do not have sufficient liquid assets to be classed as HNWs, i.e. they have liquid assets of USD50K -300K. As such they form the bridge between the HNW market and the mass retail market.
• Research methodology
• The Global Wealth Model
• The UK sub model
• Asia-Pacific sub model
• Forecasting methodology
• Datamonitor's wealth numbers compared with others' numbers
• Bespoke Wealth Market Sizing
• Further reading
• Datamonitor Asia-Pacific Wealth Reports
• Datamonitor Asia-Pacific Insight Reports
• Datamonitor Global Wealth Service: Competitor Tracking
• Datamonitor Financial Services Consulting
• Asia-Pacific contacts

List of Tables

• Table 1: Macro-economic factors, 1998-2003
• Table 2: South Korean onshore retail liquid asset balances, 1998-2003
• Table 3: South Korean onshore retail liquid asset balances in USD, 1998-2003
• Table 4: Domestic market capitalization and retail holdings, 1998-2003
• Table 5: South Korean GINI index and income quintiles
• Table 6: Number of South Korean mass affluent individuals, 1998-2003
• Table 7: South Korean mass affluent liquid assets, 1998-2003
• Table 8: Number of South Korean HNW individuals, 1998-2003
• Table 9: South Korean HNW liquid assets, 1998-2003
• Table 10: KOSPI and equity investment indexed, 1998-2003
• Table 11: Property price indices, 1998-2003
• Table 12: South Korea's population by age band, 2003
• Table 13: Foreign Population of South Korea, 1998-2003
• Table 14: Number of SMEs in South Korea, 1999-2003
• Table 15: GDP growth and adult population forecasts, 2003-2008
• Table 16: Forecasted retail savings and investments growth, 2003-2008
• Table 17: Number of South Korean mass affluent individuals, 2003-2008
• Table 18: South Korean mass affluent liquid assets, 2003-2008
• Table 19: Number of South Korean HNW individuals, 2003-2008
• Table 20: South Korean HNW liquid assets, 2003-2008
• Table 21: Wealth markets that have been modeled using the Global Wealth Model
• List of Figures
• Figure 1: South Korean retail savings and investments decreased by 0.3% in 2003
• Figure 2: The wealthiest 0.4% of wealthy individuals own 14.4% of total liquid assets owned by wealthy individuals
• Figure 3: There are a significant number of wealthy expatriates living and working in South Korea
• Figure 4: The number of affluent South Korean individuals is set to grow at a rate of 9.3% averaged annually over the 2003-2008 period
• Figure 5: Methodology diagram and report structure
• Figure 6: The South Korean economy suffered from the Asian economic crisis, but was boosted by consumer indebtedness
• Figure 7: The KSE has seen some torrid times in recent years, but has recovered better than many exchanges
• Figure 8: South Korean retail savings and investments decreased by 0.3% in 2003
• Figure 9: The 20% of South Koreans that have the highest income levels, earn 39.3% of total income
• Figure 10: Affluent wealth decreased as a percentage of total liquid wealth over the 1998-2002 period
• Figure 11: The number of South Korean mass affluent individuals has grown at an average annual rate of 5.5% over the 1998-2003 period
• Figure 12: Mass affluent liquid assets in South Korea dipped between in 2003 by 2.2%
• Figure 13: The number of South Korean HNW individuals has grown at a rate of 6.6% averaged annually over the 1998-2003 period
• Figure 14: HNW liquid assets in South Korea grew at an average annual rate of 6.4%
• Figure 15: The KOSPI index jumped by 82.8% in 1999 only to fall by 50.9% the following year
• Figure 16: Property prices in the Korean cities have risen in recent years, although growth has not been as marked as in other Asian markets
• Figure 17: South Korea has a relatively young population, with only 7.5% of the population over 64 years of age
• Figure 18: Foreigners living in South Korea tend to be concentrated in Seoul and Gyeonggi-do
• Figure 19: There are almost three million SMEs in South Korea, a figure that has grown strongly despite the problems faced by the economy
• Figure 20: Retail savings and investments set to grow strongly between 2003 and 2008
• Figure 21: Mass affluent individuals will increase at an average annual rate of 9.2% over the 2003-2008 period
• Figure 22: Liquid assets of mass affluent individuals are expected to grow at a rate of 9.6% between 2003 and 2008 compounded annually
• Figure 23: The high net worth population in South Korea is set to grow at an average annual growth rate of 9.9% over the 2003-2008 period
• Figure 24: Liquid assets are expected to grow substantially faster than mass affluent assets at 11.8% CAGR over the 2003-2008 period