Abstract
Overview
Introduction
The South Korean Wealth Market 2006 is Datamonitor' s guide to the affluent
wealth landscape in South Korea. Following the popularity of Datamonitor' s
recent research in the Indian and Chinese markets, the report explores one of
the less high-profile emerging wealth markets in the Asia-Pacific region.
Scope
- Data was collected directly from governmental sources such as central
banks, mutual fund associations and stock exchanges.
- Insight into the respective financial services market was obtained through
primary interviews with the main wealth managers and private bankers.
- Sizing and forecasting of high net worth individuals were generated by
Datamonitor' s proprietary Global Wealth Model.
Report Highlights
Citigroup Private Bank is seen as a big threat in the Korean market. The bank
has a team of local Korean private bankers, which is important in the market.
However, Citibank' s strength lies in combining this local team with its
international network and subsequent access to a wide range of diverse
products and services.
In 2005 investors were selling their equity holdings to purchase property
because of rapidly spiraling house prices. At the beginning of 2006 Korea
Investment and Securities said that the investment pattern was ill advised and
could be disastrous for the balanced investment portfolio as property prices
had already approached their peaks.
Foreign banks will have to contend with the fact that the domestic banks are
using aggressive pricing tactics, which will make any growth very difficult -
especially if the banks want to do it in a profitable way.
Reasons to Purchase
- Find out why South Korea is an attractive market and its advantages over
other emerging economies.
- Find out how large the market is now and how large it will be in 2010
- Find out how big the gaps are and what the opportunities for growth will
be going forward
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