Tag: rich

rich

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Hyundai Department Store targets China’s young rich with Shanghai VIP tie-up

Hyundai Department Store’s tie-up with Shanghai premium lifestyle mall BFC offers reciprocal VIP perks as Chinese visitor spending in Korea rises.

2026.9.2

Seoul apartments are seen from the Lotte Tower in Songpa District, southern Seoul, on April 8. [NEWS1]

Wealth concentration at top intensifying as the rich's proportion of real estate assets grows

A Korean household needed assets of at least 3.48 billion won ($2.36 million) to rank among the country’s top 1 percent last year, underscoring the concentration of wealth at the top.

2026.4.16

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The National Tax Service headquarters in Sejong is seen in this file photo [JOONGANG ILBO]

As rich Koreans flee the country, KCCI urges inheritance tax reform to make them stay

As more wealthy Koreans leave the country in search of tax havens, experts urge legislative reform to keep them in Korea.

2026.2.3

An online post shows a user claiming to be poor while eating instant ramen and kimbap, but posing with a Ferrari car key. [JOONGANG ILBO]

Instant ramyeon with a side dish of Ferrari? The ‘Poverty Challenge’ sparks online outrage.

A so-called “poverty challenge” circulating on social media has drawn criticism for trivializing economic hardship, as users post pictures flaunting their wealth while claiming to suffer from terrible poverty.

2025.12.27

Filipino workers participating in a pilot program for foreign housekeepers in Korea enter the country through Incheon International Airport on Aug. 6, 2024. [NEWS1]

Income, long-term residency — still no loan: Korea's credit wall for foreigners

Foreigners, even those on salaries and residency visas, have fought a losing battle to get bank loans for years, and when they do, the interest rate is exorbitant, but some banks are slowly working to change that as the foreign population grows.

2025.7.1

Hannam The Hill in Yongsan District, southern Seoul. [JOONGANG ILBO]

Big, private and convenient: Seoul's luxury apartments embody lifestyles of Korea's rich and famous

Unlike the classical images of mansions with white fences, gardens and Greek-inspired pillars, the lifestyles of the rich and fabulous in Korea largely take place within the confines of modern concrete and steel-framed apartment complexes.

2025.4.28

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2477.41 points on April 15, up 21.52 points, or 0.88 percent, from the previous trading session. [YONHAP]

Wealthy Koreans, young and old, shift to safe investments: Report

With concerns mounting over prolonged economic slowdown, Korea's wealthy are shifting their investments away from the real estate and into safer assets such as savings deposits, gold and bonds.

2025.4.16

The right way to revamp the rich tax (KOR)

The real estate tax code should be revised. We urge the ruling and opposition parties to normalize real estate policy through bipartisanship.

2022.7.18

The right way to revamp the rich tax

The real estate tax code should be revised. We urge the ruling and opposition parties to normalize real estate policy through bipartisanship.

2022.7.17

Korea rich list gets longer as markets and property boom

The number of "rich people" with financial assets of 1 billion won ($847,000) or more increased nearly 11 percent in Korea last year from a year earlier largely on stock gains, a report showed Sunday.

2021.11.14