Move your earned income and business income into tangible assets as soon as possible. Financial assets are subject to the depreciation of currency value due to inflation, which must also be taken into account. Most wealthy individuals have a significant proportion of tangible assets, and that alone proves its importance. So, don't hesitate; when you have income, prioritize home ownership as your first step in asset management. I'm currently discussing this with Jeju WM's CEO, Ko Jun-seok. As mentioned earlier, they also run top-notch programs, and yes, they are indeed operating in the field. While some are involved in business for various reasons, everyone is interested in home ownership and similar matters. There is a lot of interest in this area, and even if they have a home, they often want to change it. The concept of a home is truly endless, which leads to the question of what to buy next.

You might be thinking about realistic concerns now. For those who are currently without a home, regardless of your capabilities, you should be considering the direction of where to live. It seems that we need to let go of the idea that we can only live in certain areas. Instead, we should focus on finding the best options within our budget. Starting from the metropolitan area, moving to Seoul, then from northern Seoul to southern Seoul, we can establish a stepping stone strategy to gradually enter Gangnam. Don't say, I can't do Gangnam, it's impossible. Instead, don't give up and try to move strategically. However, there are also people who suggest that you should buy a decent place in Seoul even if it means stretching your budget. The reasoning is that once you own a property, you can manage to hold on to it somehow.

In a few years, the difference between living comfortably and living in a cramped house will continue to widen. Some people say that enjoying life now means you won't be able to afford that later. How do I see this? As I mentioned earlier, for those who are prepared to make sacrifices, like skipping coffee and tightening their belts to control spending, I support the idea of stretching their budget to buy a home. For families that can cut out all extracurricular activities, I think it's important to prioritize spending. They might need to walk a couple of stops instead of taking public transport. For those who can make such sacrifices, I support the idea of buying a home even if it means stretching their finances. However, if you can't give up that lifestyle, then you shouldn't stretch your budget. Most of those who have succeeded in this regard have made significant sacrifices.

무리해서 샀는데 결국 대출을 다 갚고 전세로 맞추는 분들은 다 똑같이 그렇게 사셨잖아요. 제가 만난 부자들은 처음부터 부자는 아니었어요. 부자가 되는 과정을 지켜보기도 했고, 증여나 상속받아서 부자가 된 분들도 처음부터 만난 적이 있습니다. 이분들의 부자가 되는 원칙은 정말 지출을 잘 통제한다는 거예요. 수입보다 지출을 적게 하는 것이고, 지출을 엄격하게 하지 않으면 내가 원하는 것을 이룰 수 없다는 거죠. 그리고 행동이 매우 빠릅니다. 말하면 행동으로 바로 옮겨요. 우물쭈물하면 대가를 더 치러야 해요. 내가 의사 결정을 일주일 늦게 내렸다면, 집을 보고 왔는데 이걸 사야 할지 말아야 할지 일주일 고민하는 동안 1억이 올라간다는 거죠. 그러니까 부자가 되시는 분들의 특징은 그런 것입니다.

They have certain characteristics. Why do wealthy older people wear jackets and eat seolleongtang? When I was at the bank, I saw wealthy clients who would eat a lot for lunch and dinner. However, they don't go to expensive places; instead, they go to famous restaurants known for their delicious food, like for seolleongtang. But that's actually better. If you have this mindset, I really want to encourage you to invest everything you have. So, whether it's your mom's money, your dad's money, the bank's money, or your own money, you can buy it. I can't give up that lifestyle. I need to travel abroad at least once a year during vacation, I have to buy coffee every day, and since I work, I need to eat out regularly. If I'm late, I have to take a taxi, and there are all these things, right? So, it won't be easy. It can be quite burdensome, especially for office workers, and that mindset is crucial.

I think the main difference is that there are people who take taxis and those who absolutely do not. So, those who never take taxis might be able to make some sacrifices. If that’s difficult, then there are those who try to be a bit flexible. I don’t see the issue of home buying with loans as a problem of interest rates. It’s not about the interest rates; it’s about how we control our spending. If we approach it this way, we find that there are people who go around looking for banks that offer just 0.1% lower interest rates. However, what’s more important than finding a bank that offers 0.2% lower interest is how I can reduce my spending by 10,000 won. In fact, the difference in interest rates is less significant than the cost of a trip or even saving up for coffee, which can be much larger. But since that’s not easy, people are also struggling with the idea of making sacrifices.

I'm currently feeling a bit worried. I wonder if this will lead to a lot of comments. But please don't misunderstand; I'm not saying that you should live like that. It's just that people with a certain level of confidence might not see it that way. From the perspective of those who can't afford it, they might think, Why are they taking out so many loans? Ultimately, it comes down to the difference in controlling one's spending. Most people can only borrow what the bank is willing to lend, and even that can be difficult. Banks typically lend only a reasonable amount. I've worked as a loan officer, and if you don't have an income, they won't lend you money. Banks really dislike losing money, so they set aside a lot for loan loss provisions.

So, even if you are very careful, it seems that they won't lend it to you. I would like to ask about reconstruction as well. These days, there is a trend towards new constructions, and many people feel they need to buy new properties. As a result, new constructions are quickly rebounding. Because of this, it seems a bit late to go buy new properties, and some people are thinking that since the atmosphere for reconstruction is not good these days, they should consider other options. What do you think about investing in reconstruction or redevelopment? Of course, such investments can be fine, but I would prefer to recommend investing in new constructions rather than reconstruction or redevelopment. The reason is that the reconstruction period takes a long time, and the same goes for redevelopment. However, even if you want to live with a jeonse (a type of lease in Korea), reconstruction...

The proportion of jeonse is low, so a significant amount of my investment capital needs to be put in. However, new constructions differ in various ways. The jeonse amount is close to 50% to 60% of the purchase price, but the investment capital required is relatively low. Even if you buy for actual demand and take out a loan, the quality of life changes. Since the community is fully integrated, the atmosphere of an apartment built 30 years ago is different. For dual-income families, new constructions are very appealing because they don't have to cook. When a mother says, Come eat, it means they can just go and eat. If someone says, Mom, I'll be eating, that works too. There are increasingly more complexes where breakfast, lunch, and dinner are all provided. However, if you want to buy a property for reconstruction, the expectation of what will happen after the reconstruction makes it more expensive than the new apartments nearby.

Apartment prices should be higher; that's how the market should be structured. However, the prices for reconstruction are actually lower than those for new constructions. This means there’s no need to buy. As you can see, in Banpo, the Won Valley has been occupied, but it hasn't even been a year since the move-in. In contrast, the Remian Prestige has been around for 15 years. The Acro River Park is about 8 or 9 years old, right? Since the Remian Prestige is 15 years old, the prices of these three are quite similar. A 15-year-old apartment should be much cheaper, but that’s not the case. Therefore, I believe that moving towards new constructions is the right choice. Of course, there are variables in the long term, but if I had to buy now, I would need to follow the current trend. However, it’s also difficult for me to enter the market, so I might consider renting instead.

Those who are involved in this often find that it costs too much money. Additionally, there will be extra contributions needed, and the construction costs cannot be covered by the current budget. Therefore, there are many additional expenses that will arise in the future. If that's the case, why would anyone want to invest in reconstruction or redevelopment? Owning new properties is much better. It also helps with liquidity since new properties tend to sell better. Furthermore, in major areas of Seoul, reconstruction projects are all tied up with land transaction permits, which means they cannot be liquidated. I would like to ask about this as well. Earlier, it was mentioned that there are many asset holders in the top-tier areas, and those areas have seen significant price increases. There are talks about breaking through previous records. Will prices continue to rise from here? What do you think? I mentioned earlier that it might be better to align with Singapore's market trends before proceeding. In the past, it was...

Matching the keys, marching, matching, and marching, that's how it used to be. But now, I think it's going to be difficult for that pattern to appear again. Those who are going to move forward will continue to do so, while the others will try to follow. I believe that will happen because there are many new wealthy individuals emerging, but the areas they want to move to are limited. However, the number of apartments in those areas cannot increase. Therefore, the reported prices in those areas will inevitably rise. So, I think rather than matching keys, there is a higher possibility that things will continue to move forward. This will correlate with our economic growth rate, the money supply, and our household income. In the past, asset holders would not engage in that; they would buy a little lower and split their purchases into two or three properties, which somewhat dampened the upward trend. But now, it’s a different story.

It seems that the atmosphere is such that people are encouraged to buy just one property. This could lead to an increase in prices, especially in certain areas. From the perspective of our viewers, realistically, while expensive homes are one thing, many people are looking to buy something affordable first. There are quite a few individuals who have saved around 100 to 200 million won in cash. For these individuals, what would be a good option to purchase right now? 

In Gyeonggi Province, buying newly built properties can be challenging without taking out a loan. However, for those living in the metropolitan area of Gyeonggi Province, it's important to pay attention to the transportation environment, especially in areas connected to the GTX. It would be beneficial to focus on these regions. Buying newly built properties in such areas could be a good option, especially as we approach 2028.

Since the connection to Gangnam is established through the Samsung Station line, especially with the three GTX lines connecting to Gangnam Samsung Station, it is very important. Therefore, it would be good to consider new apartments in the areas around the connected stations. Even if, for now, the BNC line doesn't go all the way to Samsung, lines like the C line would still be beneficial. It's worth looking into those lines as well, especially in the long term. When you don't have much money, you have to make future bets. Unfortunately, everything good is expensive right now. Lastly, since you have experience in the financial sector, many young viewers are contemplating whether to invest in real estate or financial assets. There are also discussions about upward-trending assets, including U.S. stocks.

There are many people who think that after investing in U.S. stocks, they can just live on rental income. They have been investing for a long time, so I wonder how young people should view this. In my experience managing the assets of wealthy individuals, I don't think anyone has become rich solely through financial assets. Therefore, I want to tell the viewers of Wealthy Man TV to quickly move their earned income and business income into tangible assets. Financial assets are paper assets, and we must consider the decline in currency value due to inflation. Ultimately, whether we hold U.S. stocks or Korean stocks, we need to consider the value of money when we sell them. However, tangible assets are not affected by inflation in the same way.

As prices rise, most wealthy individuals have a significant proportion of their assets in tangible assets. This is evident and serves as proof. Therefore, don't hesitate; when you have income, prioritize home ownership as your first goal and manage your assets accordingly. This is very important. However, some people might say that they will wait for a better time to invest in real estate when the market is not doing well. But waiting for a downturn to invest is not a good strategy either. Timing is crucial, and if you wait for the right moment, it may not align. We don't have in-depth knowledge of every company we invest in, and even if we do, we can't predict the risks that may arise in the global economy. The volatility is so high that we cannot effectively cope with it. If that's the case, it's essential to be cautious.

I think that having tangible assets that do not decline in value is a shortcut to becoming wealthy. Generally, while there are a few individuals who have become extremely rich through stocks, most wealthy people have earned their money through business or labor, then purchased real estate, which has increased their assets. After that, they gradually allocate some of their wealth into financial assets. It seems that the direction is somewhat opposite. So, first, it's about real estate, and then if there is extra capital, they might invest in stocks or put some into financial assets. They don't hold 100% of their assets in real estate. Anyway, when you're young, it's wise to focus on acquiring your own home first and plan accordingly. If things go well, then you can think about expanding. I believe this approach is a bit safer in the long run.

It seems that we have had the opportunity to speak with CEO Ko Jun-seok of JWM. We discussed the recent atmosphere in the real estate market, why it has changed, the outlook for the second half of the year, and what the market trends are expected to be for the time being. I hope this information has been helpful to those who watched. Now, I will conclude the video while saying goodbye to the CEO. Thank you for joining us today, CEO. Thank you.

"확실하게 말씀드릴게요" 과거로 돌아간다면 좀 더 빨리 '이렇게' 할 겁니다 [고준석 대표 3부]

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