Seoul’s fall from the top spots on global millionaire lists is sparking worry across the city and beyond. The shift isn’t just a headline— it hints at deeper stress among South Korea’s richest and could stir a broader economic ripple.
Experts say the decline may stem from a mix of things: tighter tax rules, a slowdown in tech growth that once richly rewarded entrepreneurs, and more people moving abroad for better opportunities. If a wave of high‑net‑worth residents leaves, local banks, real‑estate markets, and the startup scene could feel the knock‑on effect.
The question now is whether these affluent South Koreans will stay, move overseas, or even return later. Some investors hint the story could change if the government shortens capital‑inequality penalties or launches incentives for home‑grown entrepreneurship. Others warn that a permanent exodus could erode the city’s global standing and hurt sectors that rely on wealthy domestic spending.
CNA Insight follows each turn of these market moves, keeping an eye on how policy shifts, global economic trends, and real‑estate prices could tilt the balance. For readers in Seoul and beyond, staying tuned means understanding how the fortunes of the city’s elites might shape everyday commerce, housing, and job prospects in the coming years.
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