Korea 4th in world for net outflow of millionaires: Report

Korea saw a record net outward migration of 1,200 high-net-worth individuals in 2024, a report said Friday. This places the country fourth globally in millionaire outflow. The country’s manufacturers and high-tech industries have for decades helped mint new millionaires, according to The Henley Private Wealth Migration Report 2024. The explosion of Korea’s music, film and drama on the global stage has created new wealth as well. However, the reality of a nuclear-armed North Korea next door has contributed to the draw of migration for even the wealthiest of citizens, it added. “The number of millionaires leaving Korea has accelerated over the past few years,” author Curtis S. Chin said in a section of the report titled “Crazy Rich Moves: Asia’s Millionaire Migration Flows Unpacked.” The United Arab Emirates and the U.S. took the top two places for millionaire inflow, while Singapore — an international finance and trading hub — ranked third with a projected net gain of 3,500 high-net-worth individuals in 2024. Alongside Korea, Taiwan and Vietnam joined the top 10 in the miWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times