Photo: YONHAP News
A survey found that the so-called MZ Generation, referring to Generation Y and Generation Z, ranks real estate as the primary preferred investment vehicle for boosting future assets.
About 36% chose real estate as the most needed way to increase their wealth, according to a survey of 700 men and women in their 20s and 30s commissioned by the Federation of Korean Industries and conducted earlier this month.
It was followed by stocks at 32 percent, virtual assets at 13 percent and bank deposits at eight percent.
But right now, most of those polled said they actually rely on bank savings over 37%, followed by stocks, virtual currency and then real estate.
The federation said the MZ generation are aware of the potential of owning property, although the financial situation and soaring house prices are currently preventing active investment.
Over 40% of those surveyed also said they had experience investing in virtual assets, with 63% having invested less than five million won. As to the reason, nearly half said it was difficult to grow assets just with earned income, while others said they saw others make big profits.