South Korea: millionaire households with debt by value of debt 2020

According to a survey conducted in South Korea in December 2020, about 31 percent of millionaires who reported being in debt said their debts were between 100 and 300 million South Korean won. While the average debt of the millionaires surveyed was about 280 million South Korean won, about 74 percent of the respondents reported having no debt.

Share of millionaire households with debt in South Korean in 2020, by value of debt (in million South Korean won)

Value of debt in million South Korean won	Share of respondents
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Release date

March 2021

More information

Region

South Korea

Survey time period

December 2020

Number of respondents

700 millionaires*

Method of interview

Online survey

Supplementary notes

*Millionaires are defined here as individuals who conduct transactions with domestic banks and have financial assets of one billion South Korean won or more.

1,000 South Korean won equals 0.83 U.S. dollars or 0.74 euros as of March 2022.

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