“A Net Worth of 360 Million Won Living Alone”: How Working Single-Person Households Manage Their Money

Working single-person households in South Korea had an average net worth of 360 million won, according to a report from Hana Financial Research Institute.

The institute surveyed 1,000 economically active single-person households aged 25 to 59 for its report, “Exploring the Financial Needs of Working Single-Person Households.” Respondents had lived alone for an average of 10 years.

The survey found that people who had lived alone longer generally had stronger financial foundations. Those who had lived alone for more than 20 years recorded an average net worth of about 430 million won.

Although these households faced relatively little responsibility for supporting family members, they showed strong interest in retirement preparation and health management. They also tended to put more of their money toward saving and investment than consumption. Most income came from employment: 78% of working single-person households were company employees, with average monthly income of 4.25 million won. Wages and business income accounted for 3.83 million won, while financial and other income contributed 250,000 won and side-job income 170,000 won.