SEOUL, October 02 (AJP) - With global stock markets buoyant and demand for tangible assets rising, wealthy investors in South Korea are reassessing where to put their money. For Kim Jae-sang, head of Gangnam Financial Center of Woori Securities, the answers lie in gold — and in Asia’s two largest economies.
“Gold has transitioned from a safe haven and inflation hedge to an investment asset,” Kim said in an interview. “And when it comes to equities, China and Japan are increasingly becoming key regions for investment.”
Kim, a veteran of South Korea’s private banking sector since 2004, joined Woori Securities in April after leading Shinhan Investment’s Gwanghwamun Financial Center. His move was part of a broader effort by Woori Securities to strengthen its still-nascent retail and wealth management business, building on its successes in investment banking.
At the newly relocated and expanded Gangnam Financial Center, which reopened Sept. 16, Kim oversees a team catering to high-net-worth clients. The center currently manages about 1.7 trillion won ($1.2 billion) in assets, with a goal of reaching 2 trillion won by year’s end.
Asked where he sees the most promising opportunities, Kim pointed to Chinese electric vehicle makers and Japanese equities.
“China has companies that are leading the EV transition,” he said. “Japan, despite rate hikes, remains a market where index investing is attractive.”
He added that wealthy investors today are more pragmatic, preferring stability and intuitive vehicles such as exchange-traded funds.
“What we see now is a growing interest in long-term planning — global equities, alternative investments, AI-driven industries, and intergenerational wealth transfer.”
Kim’s strategy at Woori is to harness the client base of Woori Bank, offering tailored solutions that combine global stocks, bonds and alternative assets. In the first half of this year alone, Woori Securities carried out more than 1,000 joint operations with corporate clients, with over 400 at the Gangnam Center.
For Kim, the challenge is also personal: to establish Woori Securities as a serious player in retail wealth management.
“The potential is there,” he said. “What we’re building now is the foundation.”
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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