Income and Asset Rankings by Region for People in Their 30s in Korea: A Detailed Breakdown

Income and Asset Rankings by Region for People in Their 30s in Korea: A Detailed Breakdown

※ As individuals enter their 30s, they often reach important financial milestones such as career advancement, homeownership, and long-term investment planning. However, income and asset levels can vary widely depending on the region of residence. This article examines the income and asset rankings of people in their 30s across various regions in Korea, highlighting the economic differences that shape financial success and security for this age group.
Koreans in their 30s are typically more established in their careers and have begun to accumulate assets through savings, real estate, and investments. This analysis provides insights into how geography plays a role in the financial journeys of individuals in their 30s. 😅

 

1. Seoul: The Hub of High Income and Competitive Assets

Average Income: ₩45 million - ₩55 million per year
Average Assets: ₩100 million - ₩350 million
Key Factors: High-paying corporate jobs, tech industry growth, and real estate prices

Seoul continues to lead in terms of income levels for people in their 30s. With a booming job market in sectors like technology, finance, and international business, Seoul-based workers enjoy some of the highest wages in the country. However, the cost of living, particularly in housing, remains high, making asset accumulation a challenge for many.

Despite the high expenses, many in their 30s in Seoul have begun investing in real estate and other financial assets, with an emphasis on securing property or high-return financial instruments. Government programs aimed at assisting first-time homebuyers have also contributed to the growing number of homeowners in this age group.

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2. Busan: A Stable Economic Growth with Moderate Assets

Average Income: ₩38 million - ₩48 million per year
Average Assets: ₩80 million - ₩250 million
Key Factors: Shipping and trade industries, growing tourism, and affordable housing

Busan, Korea's second-largest city, presents a more balanced financial environment for people in their 30s. The city's strong industrial base, along with its growing tourism and trade sectors, provide ample job opportunities with stable incomes. While salaries tend to be lower than in Seoul, the cost of living is more manageable, allowing for greater asset accumulation.

Many residents in their 30s in Busan have been able to invest in real estate, particularly in coastal and suburban areas, where property prices are lower than in the capital. The combination of stable jobs and affordable housing contributes to the higher-than-average asset accumulation in this region.

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3. Incheon: Proximity to Seoul with Growing Investment Opportunities

Average Income: ₩35 million - ₩45 million per year
Average Assets: ₩70 million - ₩200 million
Key Factors: Lower housing costs, growing industrial sector, and tech investments

Incheon offers a unique financial environment for people in their 30s, thanks to its close proximity to Seoul. Many young professionals choose to live in Incheon to take advantage of lower living costs while commuting to high-paying jobs in Seoul. This dynamic allows Incheon residents to save more and accumulate assets faster than their Seoul counterparts.

Incheon’s industrial and tech sectors have also been expanding, providing a range of employment opportunities. Many individuals in their 30s in this region have invested in the real estate market, taking advantage of government subsidies for first-time homebuyers and leveraging their relatively higher disposable income to grow their assets.

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4. Daegu: Traditional Industries and Steady Wealth Growth

Average Income: ₩32 million - ₩42 million per year
Average Assets: ₩60 million - ₩180 million
Key Factors: Manufacturing jobs, lower cost of living, and conservative investment approaches

Daegu is known for its traditional industries such as textiles and manufacturing, and while the income levels for people in their 30s may not match those in Seoul or Busan, the cost of living is significantly lower. This allows individuals to save a larger portion of their income and build wealth over time.

Daegu’s conservative approach to wealth management, where savings and pension contributions are prioritized over high-risk investments, helps people in their 30s accumulate steady assets. Additionally, real estate is more affordable, and many have been able to purchase homes earlier in life compared to those in larger cities.

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5. Daejeon: Science and Technology-Driven Growth

Average Income: ₩40 million - ₩50 million per year
Average Assets: ₩80 million - ₩220 million
Key Factors: Research jobs, tech industries, and government employment

As a hub for research and development, Daejeon offers well-paying jobs in high-tech sectors and government positions, which attract individuals in their 30s looking for stable career growth. The income levels in Daejeon are higher than the national average due to its specialized industries, and many individuals take advantage of these opportunities to invest in real estate and financial assets.

Daejeon’s housing market, while competitive, is more affordable than Seoul’s, allowing for greater real estate investments. This region’s focus on long-term financial growth through stable employment and conservative investment strategies has contributed to significant asset accumulation for those in their 30s.

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6. Gwangju: Affordable Living with Gradual Wealth Building

Average Income: ₩30 million - ₩40 million per year
Average Assets: ₩50 million - ₩160 million
Key Factors: Government jobs, affordable housing, and slower economic growth

Gwangju offers a slower-paced financial environment for people in their 30s, with many working in government roles or small businesses. While income levels are lower compared to larger cities, the cost of living is also significantly more affordable, particularly when it comes to housing. This allows individuals to save more of their earnings and gradually build their asset base.

Many people in their 30s in Gwangju focus on traditional savings and pensions, though some are beginning to explore real estate investments in the more affordable outskirts of the city.

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7. Jeju: Tourism-Driven Economy with Modest Asset Growth

Average Income: ₩28 million - ₩38 million per year
Average Assets: ₩40 million - ₩140 million
Key Factors: Tourism, agriculture, and low housing costs

Jeju Island provides a unique economic landscape, where tourism and agriculture are the primary drivers of employment. People in their 30s working in these industries tend to have lower income levels compared to those in other parts of Korea. However, the island’s relatively low cost of living allows for modest asset accumulation.

Many in their 30s on Jeju invest in vacation rental properties or agricultural land, contributing to their asset base. While the financial opportunities on Jeju may be fewer compared to larger cities, the region’s natural beauty and relaxed lifestyle offer a different kind of wealth.

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Conclusion: Regional Disparities in Income and Asset Growth for People in Their 30s

The income and asset rankings for people in their 30s across Korea show distinct regional differences. Cities like Seoul, Busan, and Daejeon offer higher incomes but come with higher costs of living, which can limit asset accumulation. On the other hand, regions like Daegu and Jeju provide lower incomes but also lower living costs, enabling people in their 30s to build wealth more gradually.

Understanding the financial landscape by region is crucial for individuals in their 30s as they navigate major life decisions such as buying a home, saving for the future, and investing in long-term financial security.