Retirees go all in on booming stock market
A 63-year-old retiree surnamed Lee in Seoul says stocks have largely replaced bank deposits in his portfolio. "Since retiring two years ago, I've kept most of my assets in brokerage accounts rather than savings accounts. I mainly invest in semiconductor stocks such as Samsung Electronics and SK hynix, along with shares of major financial groups," he said. Lee said he hopes the gains will help cover living expenses and allow him and his wife to travel abroad more often. Lee is not alone. As Korea's benchmark KOSPI index marches toward the unprecedented 9,000-point mark, a growing number of investors in their 50s and 60s are turning to equities in search of higher returns, industry data showed Monday. Data from Mirae Asset Securities showed that investors in their 50s and 60s accounted for 21.3 percent of the increase in newly opened brokerage accounts since the end of last year. The figure was the second-highest among all age groups, trailing only investors under 20, whose numbers were boosted by a surge in stock accounts opened by parents on behalf of their children. Notably, growth in new
