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A stock ticker displays the benchmark KOSPI index closing at a record high of 8,788.38, up 3.68 percent from the previous session, at a dealing room of Woori Bank’s headquarters in Seoul, Monday. Yonhap
A 63-year-old retiree surnamed Lee in Seoul says stocks have largely replaced bank deposits in his portfolio.
“Since retiring two years ago, I’ve kept most of my assets in brokerage accounts rather than savings accounts. I mainly invest in semiconductor stocks such as Samsung Electronics and SK hynix, along with shares of major financial groups,” he said.
Lee said he hopes the gains will help cover living expenses and allow him and his wife to travel abroad more often.
Lee is not alone.
As Korea’s benchmark KOSPI index marches toward the unprecedented 9,000-point mark, a growing number of investors in their 50s and 60s are turning to equities in search of higher returns, industry data showed Monday.
Data from Mirae Asset Securities showed that investors in their 50s and 60s accounted for 21.3 percent of the increase in newly opened brokerage accounts since the end of last year.
The figure was the second-highest among all age groups, trailing only investors under 20, whose numbers were boosted by a surge in stock accounts opened by parents on behalf of their children.
Notably, growth in new accounts among investors in their 50s and 60s outpaced that of investors in their 30s and 40s, age groups traditionally regarded as the core demographic for stock investing.
Their investment choices suggest they are seeking more than stability.
According to the data, Korean chip giants Samsung Electronics and SK hynix were among the most widely held domestic stocks among investors in their 50s and 60s. Tesla and Nvidia ranked as their top two overseas holdings.
Experts say the trend reflects a growing willingness among retirement-age investors to take on market risk, as deposit rates struggle to keep pace with inflation.
“With deposit rates still hovering around 3 percent, many older Koreans feel they have little choice but to look elsewhere for returns to support themselves in retirement,” said Kim Dae-jong, a professor of business administration at Sejong University.
Kim cautioned, however, that the trend carries risks.
“The semiconductor rally has been a major driver of market gains, but there is no guarantee it will continue indefinitely,” the professor said. “Unlike younger salaried workers, older investors have fewer opportunities to recover from large losses. Limiting stock investments to around 30 to 40 percent of retirement assets would be a more prudent approach.”
Other data also suggest that a growing number of older investors are already taking on greater risks for higher returns.
Data submitted by the Financial Supervisory Service to Rep. Kim Sang-hoon of the main opposition People Power Party showed that investors aged 50 and older accounted for 62.3 percent of the country’s 27.2 trillion won ($18 billion) in outstanding margin loans in the first quarter.
Retirees are also increasingly turning to leveraged products despite higher risks.
According to the Korea Financial Investment Association, 228,763 investors had completed the mandatory education courses required to trade single-stock leveraged and inverse exchange-traded funds as of Wednesday. Of those, 97,460, or 42.6 percent, were aged 50 or older.
Introduced last month, the products allow investors to make amplified bets on the performance of individual stocks. While they can boost gains when prices rise, losses can mount just as quickly when markets move in the opposite direction.
Financial authorities have introduced safeguards, including the mandatory pre-trading education, to ensure investors understand the risks before trading.
