Apartment complexes in Seoul are seen from Lotte World Tower, April 19. Yonhap
HONG KONG — As his 8-year-old son blew out the candles on his birthday cake in February, Choi Nam-joon gave him a present he hopes will keep growing long after the party ends: three shares of Samsung Electronics.
The shares, worth a total of about 500,000 won ($331) at the time, were added to the boy’s brokerage account, part of a plan the 42-year-old Korean office worker sees as the most realistic way to help his son build wealth.
Choi’s family cannot afford to buy a home in one of Seoul’s most sought-after districts. Nor does he want to buy a cheaper property outside the capital, which he believes is exposed to long-term decline.
“I try to get my son interested in the stock market by doing this together,” Choi said. “It’s a way to help your child build assets through the magic of compounding, while also saving on tax.”
