S.Korea's household assets rise to record high in 2022
One in every four people is addicted to smart gadgets as one-fifth of S.Koreans feel lonely
A South Korean household with an average income would need to save their earnings for 10 years without spending any money to buy a home in or near Seoul
Average household net assets in South Korea in 2022 increased 10% to a record 456 million won ($350,000) from a year earlier, while it took longer to buy a first home in the Seoul metropolitan area, statistics data shows.
The percentage increase outpaced the country's consumer inflation of 5% the same year.
According to Statistics Korea’s 2022 social indicators released on Thursday, average household assets, including liabilities, rose 9% on-year to 547.7 million won, with debts crawling up 4.2% to 91.7 million won.
Statistics Korea forecasts the median age to spike to 62.2 in 2070.
Almost one-quarter of households, or 22.8%, were led by those 65 or older in 2021. The number nearly doubled, compared to 12.1% in 2000.
About one-fifth of South Koreans, or 19.2% of the respondents of Statistics Korea’s 2022 survey, admitted they felt lonely, with 26.2% of people over 60 feeling more isolated than other age groups.
(Graphics by Sunny Park) By income, 41% of the low-income group, or households with a monthly income of 1 million won or below, expressed their loneliness. That compared to 15.6% of those earning more than 6 million won a month.
Regarding the use of smart gadgets, one out of four people, or 24.2%, were addicted to mobile phones and tablets in 2021. In other words, the time they spent on smartphones and tablets was enough to impair their health and relationships.
