South Korea’s Kiwoom Securities saw its individual customer base surpass 9.05 million as of the end of last month. That represents an increase of roughly 920,000 customers, or 11%, from 8.13 million at the end of July last year. The growth was particularly pronounced among high-net-worth clients with deposited assets of 1 billion won (approximately $720,000) or more. Over the same period, customers with 1 billion won or more in deposited assets rose 80.7%, while those with 3 billion won (approximately $2.2 million) or more increased approximately 90%.
The composition of high-net-worth clients’ holdings also underwent a clear reshuffling. The top holdings among customers with 1 billion won or more shifted from Samsung Electronics, NAVER, SK Hynix, Kakao, and Doosan Enerbility in July last year to Samsung Electronics, SK Hynix, Hyundai Motor, Doosan Enerbility, and NAVER in July this year. NAVER fell from second to fifth place, while SK Hynix climbed from third to second, and Hyundai Motor newly entered the rankings at third.
The changes were even more dramatic in the 3 billion won-plus segment. NAVER and Kakao, which had been in the top ranks last year, both fell outside the top five. Samsung Electronics and SK Hynix took the first and second spots, followed by Hyundai Motor, Doosan Enerbility, and Samsung Electro-Mechanics. SK Hynix rose from fourth to second in this segment.
By age group, generational differences in stock preferences were clearly evident. Investors in their 20s and below and those in their 30s held SK Hynix most. The stock was absent from the top ranks of both age groups as recently as July last year, but climbed to the number one position within a single year. In contrast, Samsung Electronics maintained its top spot among investors aged 40 and older.
Hyundai Motor advanced broadly across all age groups. In July last year, it appeared in the top ranks only among investors in their 30s and 40s, but by July this year it ranked third to fourth across every age bracket, from those in their 20s and below to those 60 and older. Samsung Electronics preferred shares also newly entered the top ranks across all age groups 30 and older. The shift is interpreted as growing interest in preferred shares as their dividend appeal has come into focus.
Conversely, Kakao and Alteogen disappeared from the top five holdings across all age groups in July this year. In July last year, Kakao had ranked among the top holdings for investors in their 40s and 50s, while Alteogen had appeared in the top ranks for those in their 30s.
A Kiwoom Securities official said, “Looking at recent investment behavior among high-net-worth clients, investors in their 20s and 30s show a clear preference for stocks with high growth expectations, while those 40 and older continue to favor stocks with market representativeness and stability.”
The data draws attention as it aligns with Kiwoom Securities’ strategy of expanding its brokerage-centric retail business into wealth management. Retail asset management balances grew from 3.3 trillion won (approximately $2.4 billion) in 2023 to 5.3 trillion won (approximately $3.8 billion) in 2024 and 8.7 trillion won (approximately $6.3 billion) last year, before surpassing 10 trillion won (approximately $7.2 billion) in March this year. Earlier this year, the company expanded and reorganized its existing asset management division into a full asset management department, pursuing a strategy of connecting its brokerage customer base to wealth management services centered on promissory notes and retirement pensions.