This year, as the domestic stock market has shown a steep upward trend, notable changes have also been observed in the investment landscape of high-net-worth individuals. These individuals are increasing their allocation to AI semiconductor-related stocks such as Samsung Electronics and SK hynix, while also showing interest in industries that could benefit in the 'post-semiconductor cycle' era.

In a recent interview with The Asia Business Daily, Won Jangyun, Director of Shin Young Securities Family Office, explained, "Whereas the traditional portfolio allocation for high-net-worth clients was typically 30% stocks, 30% bonds, and 40% alternative assets, recently, the stock allocation has increased to around 60% in many cases." He added, "Given the abundant liquidity and continuing expectations for earnings improvement, most clients are inclined to maintain their current portfolio structure rather than aggressively reduce stock exposure." Won further noted, "High-net-worth individuals are not necessarily conservative; in fact, many exhibit proactive and even preemptive investment tendencies."

Won stated that the most frequently asked question by clients recently is, "How long will the bull market continue?" He said, "It's difficult to provide a definitive answer, but based on the indicators available so far, there is still room for further upside." He cited three independent factors: abundant liquidity, improving corporate earnings, and supportive government policy.

The preferred investment destinations for high-net-worth individuals fall into two major categories. The first is, of course, AI and semiconductor infrastructure. As these sectors are considered the pillars driving global IT growth, interest in related investments remains high. In Korea, attention is expanding to include not only Samsung Electronics and SK hynix but also equipment companies expected to benefit from rising semiconductor prices and increased capital expenditures.

Won Jangyun, Director of Shin Young Securities Family Office.

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He said, "Even amid variables such as exchange rates, oil prices, and interest rates, it is important to focus on assets with solid fundamentals." He diagnosed, "While it was difficult to predict profit growth for semiconductor companies through last year, the likelihood of continued growth remains high through the second half of this year."

The second pillar is stocks benefiting from 'Value-Up' initiatives. As government policies to enhance corporate value and discussions on commercial law revisions overlap, expectations for the revaluation of undervalued companies are rising. In particular, since high-net-worth individuals are sensitive to after-tax returns, there is a clear trend of increasing investment in companies expected to expand dividends and offer the benefits of separate taxation.

Investment opportunities following the semiconductor supercycle are also drawing interest from high-net-worth individuals. Won identified the energy sector as a key investment destination. He explained that, amid rising tensions in the Middle East, the importance of energy security is being highlighted, increasing the likelihood of policy changes. He said, "Interest in alternative energy and nuclear power is bound to grow," and emphasized, "It is also worth paying attention to the trend of Korean companies participating in the global nuclear power market as 'Team Korea.'"

Perspectives on virtual assets are also changing. Won stated, "There is clearly a trend of including virtual assets, including Bitcoin, as an asset class," and added, "There are many cases where some portion of total assets is allocated to these investments." However, he cautioned, "Debate continues over the intrinsic value and role of virtual assets," and urged a cautious approach.

He also emphasized that signs of market overheating should not be ignored. He noted, "In the first quarter of this year, funds flowing into the stock market reached about 60 trillion won, an increase of more than sevenfold from the previous quarter." He warned against excessive concentration in particular assets. He added, "Since the Korean market is highly sensitive to geopolitical risks and changes in interest rates and exchange rates, it is essential to manage risks through asset allocation."

Meanwhile, Shin Young Securities Family Office is an organization that goes beyond simple asset management, helping high-net-worth individuals transfer their wealth securely to the next generation. Experts in accounting, tax, law, real estate, and trusts collaborate to provide customized solutions for succession, tax savings, and investment tailored to each family's business and circumstances. In particular, by offering specialized multi-asset funds tailored to each family's preferences, the Family Office proposes stable portfolios that reflect asset allocation strategies and risk assessments from investment professionals, going beyond simple product recommendations for high-net-worth clients.