More and more people believe stocks are the best investment as the Korean stock market continues a bull run.
According to a poll of 1,000 people by Gallup Korea last week, a quarter of respondents chose stock investment as the best way to increase their money, up from 11 percent in the same survey last July.
“The nine surveys we’ve conducted since 2000 show that stock investments, which entail the risk of losing the principal, usually lagged behind real estate, but they became extremely popular this year,” a Gallup staffer said.
The proportion who chose residential property was still just ahead with 27 percent, but that was down from 36 percent last July.
The proportion of who favored investing in land fell from 19 to 14 percent over the same period.
Moon Yoon-jung at Shinhan Investment Corporation said, “Residential property and land now entail high taxes and numerous regulations that make them less appealing, but it’s easy to liquidate stocks and they’re currently not taxed.”
At present three in 10 Koreans invest in stocks. The largest group are in their 30s and 40s with 38 percent, but the proportion among 20-somethings surged from 12 percent to 27 percent.
Seven out of 10 people who invested in stocks last year said they made a profit, the first time they have outnumbered net losers.
Retail investors also have a rosy outlook for the future, with 41 percent saying they believe the KOSPI will rise even further this year.
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