(MENAFN- Qatar News Agency) Oul July 21 (QNA) - South Korean households' financial investments lag far behind those of the United States as they focus more on property and bank deposits data showed Monday.
Cash and bank deposits accounted for a large 45.5% of South Korean households' financial assets in 2013 compared to 12.5% for the US according to the data compiled by the Korea Financial Investment Association.
The portion of their financial investments such as stocks and bonds stood at 25% last year with the comparable figure for insurance and pension being 28.9% they showed.
Compared to 2007 the portion of cash and bank deposits rose 3% but that for financial investment dropped 9.1% over the cited period the data showed.
The data showed US households' exposure to financial investment vehicles was much higher than those by South Korean households accounting for 53.7% of their assets according to South Korea's (Yonhap) News Agency.
Stocks and funds each accounted for 16.7% and 3% of local households' financial assets compared to a whopping 33.7% and 11.6% tallied in the US they said.
Real estate had been considered the most guaranteed means of investment in South Korea as the property market prospered for decades following the country's brisk growth. (QNA)
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