The number of millionaires in South Korea has surpassed 1.3 million, placing the country 10th globally in total millionaire population, according to the newly released 2025 Global Wealth Report by Swiss investment bank UBS.
 |
| South Korea Now Has 1.3 Million Millionaires |
South Korea’s Millionaire Growth in 2024
As of 2024, 1,301,000 South Koreans held assets worth over $1 million USD (approx. 1.375 billion KRW). This marks a slight increase from 1,295,674 in 2023. South Korea ranked 10th among 56 developed and developing nations included in the UBS report.
Who Has the Most Millionaires in the World?
The United States continues to dominate with 23.83 million millionaires, accounting for a massive 39.7% of the global total. Here’s a look at the top 10 countries by millionaire population:
- United States – 23.83 million
- China – 6.33 million
- France – 2.90 million
- Japan – 2.73 million
- Germany – 2.68 million
- United Kingdom – 2.62 million
- Canada – 2.10 million
- Australia – 1.90 million
- Italy – 1.34 million
- South Korea – 1.30 million
Other countries with over 1 million millionaires include the Netherlands (1.27M), Spain (1.20M), and Switzerland (1.12M).
 |
| Millionaires rank by country |
Regional Breakdown of Millionaire Growth
- Asia-Pacific: After Japan and South Korea, Taiwan (759,000), Hong Kong (647,000), and Singapore (331,000) also rank high.
- Latin America: Brazil (433,000) leads, followed by Mexico (399,000).
- Middle East: Saudi Arabia (339,000) tops the region, with UAE (240,000) and Israel (186,000) trailing behind.
Global Total and Daily Growth
UBS estimates that the global millionaire population has reached approximately 60 million, with a combined wealth of $226.47 trillion USD (around KRW 31,169 quadrillion).
In the U.S. alone, millionaire numbers rose by 379,000 in one year, translating to an average of 1,000 new millionaires per day, including weekends. China added 386 new millionaires per day during the same period.
Future Outlook: 5 Million More Millionaires by 2029
UBS forecasts that, thanks to strong growth in the U.S. and other key markets, over 5 million more millionaires will emerge globally by 2029, continuing the upward wealth trend despite global economic uncertainty.
Learn Korean Through This News
Korean Text:
“작년 한국의 백만장자 수가 130만명을 돌파한 것으로 집계됐다. 전 세계 주요국 가운데 10위다.”
Key Vocabulary:
- 작년 – last year
- 한국 – South Korea
- 백만장자 – millionaire
- 수 – number
- 돌파하다 – to surpass, to exceed
- 집계되다 – to be counted, to be tallied
- 전 세계 – the whole world, global
- 주요국 – major countries
- 가운데 – among
- 10위 – 10th place
Translation:
Last year, the number of millionaires in South Korea surpassed 1.3 million. Among major countries around the world, Korea ranked 10th.
Keywords
South Korea millionaire 2025, Korean wealth statistics, global millionaire ranking UBS, 세계 백만장자 수, 한국 백만장자 랭킹, millionaire growth by country, 하루 천명 백만장자, Korean economic status 2025, UBS global wealth report, richest countries by millionaire count, millionaire per day USA, South Korea 1.3 million millionaires