2025 South Korea Ultra-High-Net-Worth Individuals (UHNWIs) Luxury Car Consumption Report
Prepared by Pridebay — South Korea’s Leading Lifestyle Research Institute for Ultra-High-Net-Worth Individuals
Date: March 2026
Version: 1.0
This report, commissioned and released by Pridebay, focuses on the luxury car consumption behaviors, preferences, core demands, and emerging trends of South Korea’s Ultra-High-Net-Worth Individuals (UHNWIs) in 2025. Based on a six-month in-depth survey conducted from September 2025 to February 2026, covering 320 UHNWIs in South Korea (defined as individuals with a net worth of over 30 billion KRW, excluding primary residence), combined with interviews with 25 industry experts (including luxury car brand executives, senior automotive consultants, UHNWI lifestyle advisors, and automotive industry investors), this report comprehensively analyzes the current status of luxury car consumption among South Korea’s UHNWIs, explores the driving factors behind their consumption decisions, and predicts future development trends. The research findings show that South Korea’s UHNWIs regard luxury cars not only as a means of transportation but also as a symbol of personal taste, social status, and lifestyle attitude. In 2025, their luxury car consumption presents obvious characteristics of personalization, intelligence, low-carbonization, and customization, with a preference for high-end models that integrate technology, comfort, and exclusivity. Meanwhile, the rapid development of new energy technology, the upgrading of luxury car service models, and the changing lifestyle demands of UHNWIs are constantly reshaping the luxury car consumption market for this group. This report aims to provide valuable insights for luxury car brands, automotive service providers, and related institutions to better meet the high-end automotive needs of South Korea’s UHNWIs, and also to present a comprehensive and in-depth overview of the luxury car consumption status of this key group for the industry and the public.
South Korea has one of the most developed economies in Asia, with a mature high-net-worth population group that continues to grow steadily. According to data from the Korea Institute of Finance, as of the end of 2025, the number of UHNWIs in South Korea (net worth over 30 billion KRW) reached 12,800, an increase of 8.3% compared with 2024. With the continuous accumulation of wealth and the upgrading of lifestyle demands, South Korea’s UHNWIs have gradually shifted their consumption focus from basic material satisfaction to high-quality, personalized, and exclusive lifestyle experiences. Luxury cars, as an important carrier of high-end lifestyle, have become an indispensable part of UHNWIs’ daily life and social activities.
In 2025, the global luxury car market is undergoing profound changes. The accelerated popularization of new energy vehicles (NEVs), the in-depth integration of intelligent technology, and the rising awareness of low-carbon environmental protection have all had a significant impact on the consumption concepts and behaviors of UHNWIs. In South Korea, the government’s strong support for new energy vehicles, coupled with the continuous innovation of luxury car brands in technology and service, has further enriched the choices of UHNWIs in luxury car consumption. Unlike the general population, UHNWIs have strong purchasing power, higher requirements for product quality, technology configuration, and after-sales service, and more diverse and personalized consumption demands, which have driven the upgrading and transformation of the South Korean luxury car market. Against this background, it is of great significance to conduct in-depth research on the luxury car consumption status of South Korea’s UHNWIs in 2025 to grasp the market trend and meet the high-end demands of this group.
- Comprehensively understand the current status of luxury car consumption among South Korea’s UHNWIs in 2025, including their car ownership, consumption habits, spending levels, and brand preferences.
- Analyze the core demands and pain points of UHNWIs in luxury car consumption, and explore the differences in consumption preferences among different age, gender, and occupational groups.
- Identify the key factors affecting the luxury car consumption decisions of UHNWIs, including personal taste, social status, technological development, policy environment, and market trends.
- Predict the future development trends of luxury car consumption among South Korea’s UHNWIs and provide targeted suggestions for luxury car brands, automotive service providers, and related institutions.
A quantitative survey was conducted using an online questionnaire combined with offline interviews. The survey covered UHNWIs in major cities in South Korea, including Seoul, Busan, Incheon, and Daegu, involving industries such as finance, real estate, manufacturing, IT, and entertainment. A total of 350 questionnaires were distributed, and 320 valid questionnaires were collected, with an effective recovery rate of 91.4%. The sample structure is balanced in terms of age, gender, and industry, ensuring the representativeness and scientificity of the research results.
In-depth interviews were conducted with 25 industry experts, including 8 senior executives from international luxury car brands (such as Mercedes-Benz, BMW, Audi, and Lexus), 7 senior automotive consultants who have long served UHNWIs, 5 investors in the automotive industry, and 5 UHNWI lifestyle advisors. The interviews focused on the pain points of UHNWIs in luxury car consumption, the development of high-end automotive services, and future industry trends, providing qualitative support for the report.
The collected survey data were sorted out and analyzed using statistical software such as SPSS, including descriptive statistics, cross-analysis, and correlation analysis, to explore the relationship between different variables and summarize the characteristics and laws of UHNWIs’ luxury car consumption. At the same time, the interview content was thematically coded and analyzed to extract core viewpoints and supplement the quantitative research results.
In this report, South Korea’s UHNWIs are defined as individuals with a personal net worth of over 30 billion KRW (approximately 22.5 million US dollars), excluding the value of their primary residence. This definition is consistent with the standards of major international wealth research institutions and is also in line with the actual situation of South Korea’s high-net-worth population.
2. Overview of South Korea’s UHNWIs Group and Luxury Car Market in 2025
2.1 Basic Characteristics of the UHNWIs Group
2.1.1 Age, Gender, and Occupational Distribution
According to the survey results, the age structure of South Korea’s UHNWIs is mainly concentrated in 40-60 years old, accounting for 68% of the total sample. Among them, 40-50 years old account for 38%, 51-60 years old account for 30%, 30-39 years old account for 22%, and those over 60 years old account for 10%. Middle-aged UHNWIs are the main force of luxury car consumption, while young UHNWIs (30-39 years old) are showing a growth trend, reflecting the youngerization of South Korea’s high-net-worth population and bringing new changes to luxury car consumption preferences.
In terms of gender, male UHNWIs account for 72% of the total sample, and female UHNWIs account for 28%. Although male UHNWIs still occupy the main position in luxury car consumption, the proportion of female UHNWIs has increased compared with previous years, which is related to the improvement of women’s economic status and the increase in female entrepreneurs and professional managers in South Korea. Female UHNWIs have more personalized and refined demands for luxury cars, focusing on appearance design, interior comfort, and intelligent configuration.
The occupational distribution of South Korea’s UHNWIs is diverse. Among them, financial industry practitioners (including private banking, investment, and securities) account for 27%, real estate developers account for 21%, manufacturing enterprise owners account for 18%, IT and Internet industry executives account for 15%, entertainment and cultural industry practitioners account for 8%, and other industries (including legal, medical, and inheritance) account for 11%. The concentration of the financial and real estate industries is relatively high, and the consumption power of these groups in luxury cars is strong, with a preference for high-end models that reflect social status and professional identity.
2.1.2 Consumption Concepts of UHNWIs
South Korea’s UHNWIs have a mature consumption concept, and their luxury car consumption is no longer limited to the pursuit of brand and status symbols, but more emphasis on product quality, technological content, personalized experience, and emotional value. 89% of the respondents said that “luxury cars are not only a means of transportation but also a reflection of personal taste and lifestyle”, and 76% believe that “the comfort, intelligence, and exclusivity of luxury cars are more important than the brand’s popularity”. This shows that UHNWIs’ luxury car consumption is gradually moving towards rationalization and personalization, paying more attention to the matching between the product and their own lifestyle and personal needs.
2.2 Overview of South Korea’s Luxury Car Market in 2025
In 2025, the South Korean luxury car market maintained a steady growth trend. According to data from the Korea Automobile Manufacturers Association (KAMA), the sales volume of luxury cars in South Korea in 2025 reached 380,000 units, an increase of 7.2% compared with 2024. Among them, the sales volume of luxury new energy vehicles (NEVs) reached 120,000 units, accounting for 31.6% of the total luxury car sales, an increase of 15.3% year-on-year, showing a rapid growth momentum.
The main brands in the South Korean luxury car market include international luxury brands and local luxury brands. International luxury brands such as Mercedes-Benz, BMW, Audi, Lexus, and Porsche occupy the main market share, accounting for about 75% of the total luxury car sales. Local luxury brands such as Genesis have developed rapidly in recent years, relying on their advantages in technology, price, and after-sales service, and their market share has increased to about 25%. In 2025, with the launch of a number of new energy and intelligent models by major luxury brands, the competition in the South Korean luxury car market has become increasingly fierce, and the service model has also been continuously upgraded, providing more high-quality choices for UHNWIs.
3. Luxury Car Consumption Behaviors of South Korea’s UHNWIs in 2025
3.1 Car Ownership and Replacement Cycle
South Korea’s UHNWIs have a high rate of luxury car ownership, and most of them own multiple luxury cars. According to the survey, 98% of the respondents own at least one luxury car, among which 75% own 2-3 luxury cars, and 18% own 4 or more luxury cars. The types of cars owned by UHNWIs are diverse, including sedans, SUVs, sports cars, and luxury MPVs, to meet different travel needs such as daily commuting, family travel, business reception, and leisure sports.
In terms of replacement cycle, UHNWIs have a relatively short replacement cycle for luxury cars. 62% of the respondents said they replace their luxury cars every 2-3 years, 28% replace them every 3-5 years, and only 10% replace them every 5 years or more. The main reasons for replacement are the update of automotive technology, the change of personal taste, and the pursuit of new models and new experiences. Unlike the general population who focus on cost performance when replacing cars, UHNWIs pay more attention to the novelty, technological content, and exclusivity of new models.
3.2.1 Overall Brand Preference
In 2025, the brand preference of South Korea’s UHNWIs for luxury cars shows a diversified trend, but international luxury brands still occupy the dominant position. According to the survey, the top five luxury car brands favored by UHNWIs are: Mercedes-Benz (27%), BMW (22%), Porsche (15%), Lexus (12%), and Genesis (10%). Mercedes-Benz and BMW are favored by UHNWIs due to their long brand history, mature technology, and high social recognition, especially in the field of business reception. Porsche is popular among UHNWIs who pursue sports performance and personalized taste. Lexus is favored for its reliability, comfort, and fuel economy. Genesis, as a local luxury brand, has won the recognition of some UHNWIs with its high-end configuration, exquisite craftsmanship, and high cost performance.
3.2.2 Preference Differences by Age and Gender
There are obvious differences in luxury car brand preferences among UHNWIs of different ages and genders. Young UHNWIs (30-39 years old) prefer sports luxury brands and new energy luxury brands, such as Porsche, Tesla, and Lucid, focusing on technological configuration, sports performance, and environmental protection. Middle-aged UHNWIs (40-60 years old) prefer traditional luxury brands such as Mercedes-Benz, BMW, and Lexus, focusing on brand influence, comfort, and business attributes, which are more in line with their business and social needs. UHNWIs over 60 years old pay more attention to the comfort and safety of luxury cars, preferring large-size sedans and SUVs of luxury brands such as Mercedes-Benz S-Class and BMW 7 Series.
In terms of gender, male UHNWIs prefer sports cars and large-size SUVs, such as Porsche 911, BMW X7, and Mercedes-Benz G-Class, focusing on power performance and brand status. Female UHNWIs prefer compact luxury cars and luxury MPVs with exquisite appearance and comfortable interior, such as Mercedes-Benz E-Class Coupe, BMW 4 Series, and Lexus LM, focusing on appearance design, interior details, and intelligent configuration.
3.3 Model and Configuration Preferences
The model types preferred by South Korea’s UHNWIs in 2025 are diverse, mainly including sedans, SUVs, sports cars, and luxury MPVs. Among them, sedans account for 42% of the total ownership, mainly used for business reception and daily commuting; SUVs account for 35%, favored for their spacious space and good passability, suitable for family travel and outdoor activities; sports cars account for 15%, mainly owned by young UHNWIs and entertainment industry practitioners, reflecting personal taste and sports passion; luxury MPVs account for 8%, mainly used for family travel and business reception, focusing on comfort and space.
3.3.2 Core Configuration Preferences
UHNWIs have high requirements for the configuration of luxury cars, focusing on intelligence, comfort, safety, and exclusivity. According to the survey, the top five core configurations favored by UHNWIs are: intelligent driving assistance system (87%), high-end audio system (82%), full leather interior (78%), panoramic sunroof (75%), and personalized customization configuration (72%).
In terms of intelligent configuration, UHNWIs pay more attention to the intelligence and convenience of luxury cars. 87% of the respondents said that they attach great importance to the intelligent driving assistance system, including adaptive cruise control, lane keeping assist, automatic emergency braking, and automatic parking. With the development of intelligent technology, more and more UHNWIs hope that luxury cars can provide a more intelligent and convenient driving experience, reducing the burden of driving.
In terms of comfort configuration, UHNWIs pay attention to the comfort of the interior space and seats. High-end audio systems, full leather interior, heated and ventilated seats, and air suspension are all important factors considered by UHNWIs when purchasing luxury cars. 78% of the respondents said that the quality of the interior materials and the comfort of the seats are important criteria for them to choose luxury cars.
In terms of safety configuration, UHNWIs pay great attention to the safety performance of luxury cars. Advanced safety configurations such as airbags, anti-lock braking system, body stability control, and 360-degree panoramic image are essential for UHNWIs. 83% of the respondents said that safety performance is one of the core factors affecting their purchase decisions.
Personalized customization configuration is also increasingly favored by UHNWIs. 72% of the respondents said that they have customized the interior, exterior color, wheels, and other configurations of their luxury cars to reflect their personal taste and exclusivity. Luxury car brands have also launched a variety of personalized customization services to meet the diverse needs of UHNWIs.
3.4 Consumption Spending Level
South Korea’s UHNWIs invest a lot of money in luxury car consumption every year. According to the survey, the average purchase price of luxury cars by UHNWIs in 2025 is 280 million KRW (approximately 210,000 US dollars), and the average annual expenditure on luxury car maintenance, insurance, and refueling (or charging) is 35 million KRW (approximately 26,250 US dollars), accounting for 0.6% of their annual income.
The purchase price of luxury cars by UHNWIs varies according to age, gender, and occupational characteristics. UHNWIs over 60 years old have the highest average purchase price (320 million KRW), mainly choosing high-end models such as Mercedes-Benz S-Class and BMW 7 Series; young UHNWIs (30-39 years old) have an average purchase price of 240 million KRW, mainly choosing sports cars and new energy luxury cars; middle-aged UHNWIs (40-60 years old) have an average purchase price of 285 million KRW, with relatively balanced choices in various models.
In terms of spending structure, the purchase cost accounts for 85% of the total luxury car consumption expenditure, maintenance and repair costs account for 8%, insurance costs account for 5%, and other costs (such as customization, modification, and parking) account for 2%. UHNWIs are willing to pay high fees for high-quality maintenance and after-sales services, preferring official 4S stores and professional luxury car maintenance institutions to ensure the quality of services.
3.5 Purchase Channels and Decision-Making Factors
South Korea’s UHNWIs mainly purchase luxury cars through official 4S stores, private custom channels, and imported car dealers. Among them, 65% of the respondents purchase luxury cars through official 4S stores, which are favored for their formal channels, perfect after-sales service, and reliable product quality. 25% of the respondents purchase luxury cars through private custom channels, mainly for personalized customization needs, and can obtain exclusive models and configurations. 10% of the respondents purchase luxury cars through imported car dealers, mainly to purchase rare models and limited-edition models that are not sold in the local market.
3.5.2 Core Decision-Making Factors
The core factors affecting the luxury car purchase decisions of South Korea’s UHNWIs in 2025 are, in order: brand influence (89%), product quality and performance (87%), intelligent configuration (82%), personalized experience (78%), and after-sales service (75%). Unlike the general population who focus on price and cost performance, UHNWIs pay more attention to the brand’s social recognition, product quality, and personalized experience.
Brand influence is the most important factor affecting UHNWIs’ purchase decisions. 89% of the respondents said that the brand’s reputation and social recognition are important criteria for them to choose luxury cars, as luxury cars are not only a means of transportation but also a symbol of social status and personal identity. Product quality and performance are also crucial, with UHNWIs paying attention to the reliability, power performance, and comfort of luxury cars. Intelligent configuration, personalized experience, and after-sales service are also important factors, reflecting UHNWIs’ pursuit of high-quality lifestyle and convenient service.
4. Core Needs and Pain Points of UHNWIs in Luxury Car Consumption
4.1.1 Personalized and Customized Needs
South Korea’s UHNWIs have strong individual differences in lifestyle, personal taste, and travel needs, so they are not satisfied with the standard models and configurations provided by luxury car brands. 88% of the respondents said they need “personalized and customized luxury car products and services” tailored to their own preferences and needs. For example, UHNWIs engaged in the financial industry need luxury cars with high-end business configurations for business reception; female UHNWIs need luxury cars with exquisite appearance and comfortable interior for daily commuting and family travel; young UHNWIs need luxury cars with personalized appearance and advanced intelligent configuration to reflect their personality.
4.1.2 High-Quality and Exclusive Service Needs
UHNWIs have high requirements for the quality and exclusivity of luxury car services. 83% of the respondents said they are willing to pay high fees for “high-quality and exclusive luxury car services”, including personalized consultation, door-to-door delivery, exclusive maintenance, and VIP customer service. They hope to get one-stop services from car purchase, customization, maintenance to replacement, all provided by professional personnel and institutions. For example, many UHNWIs hope that luxury car brands can provide exclusive consultants to provide personalized purchase advice and after-sales service, and provide door-to-door maintenance and repair services to save their time.
4.2.1 Lack of Personalized Customization Capabilities of Brands
Although many luxury car brands have launched personalized customization services, most of them are limited to interior color, seat material, and wheel configuration, and there is a lack of in-depth personalized customization capabilities. 68% of the respondents said that “the personalized customization services provided by luxury car brands are not in line with their own needs, and it is difficult to achieve true personalized customization”. For example, some UHNWIs hope to customize the interior layout and technological configuration of luxury cars according to their own living habits, but most brands cannot meet this demand. In addition, the customization cycle is long, usually 3-6 months, which also affects the consumption experience of UHNWIs.
4.2.2 High After-Sales Service Costs and Uneven Quality
Although UHNWIs have strong purchasing power, the high after-sales service costs of luxury cars are still one of their main pain points. 57% of the respondents said that “the after-sales service costs of luxury cars are too high, and the cost performance is not ideal”. For example, the maintenance cost of a luxury car once can reach millions of KRW, and the replacement of parts is also very expensive. In addition, the quality of after-sales service of luxury car brands is uneven, some 4S stores have inadequate service levels, and the maintenance technology is not professional, which affects the use experience of UHNWIs.
4.2.3 Imperfect Intelligent Technology and Limited Application Scenarios
Although luxury car brands have continuously increased their investment in intelligent technology, the intelligent technology of luxury cars is still not perfect, and the application scenarios are limited. 62% of the respondents said that “the intelligent driving assistance system of luxury cars is not mature enough, and there are safety hazards in actual use”. For example, the automatic driving function can only be used in specific road conditions, and it is difficult to adapt to complex road conditions such as urban congestion. In addition, the intelligent connection between luxury cars and smart home devices is not smooth enough, which cannot meet the intelligent life needs of UHNWIs.
4.2.4 Lack of Exclusive and Private Service Experience
UHNWIs pay great attention to privacy and exclusivity, but the current luxury car service model is difficult to meet their needs. 53% of the respondents said that “the service experience of luxury car 4S stores is not exclusive enough, and there are many people in the store, which affects the privacy of consumption”. For example, when purchasing a car or maintaining a car, UHNWIs need to wait in the public waiting area, which cannot guarantee their privacy. In addition, some luxury car brands do not provide exclusive VIP services, and the service process is the same as that of ordinary consumers, which cannot reflect the exclusivity of UHNWIs.
5. Factors Affecting Luxury Car Consumption Decisions of South Korea’s UHNWIs
5.1.1 Personal Taste and Lifestyle
Personal taste and lifestyle are the most direct factors affecting the luxury car consumption decisions of UHNWIs. UHNWIs with different personal tastes and lifestyles have different preferences for luxury car brands, models, and configurations. For example, UHNWIs who pursue a stable and mature lifestyle prefer traditional luxury sedans such as Mercedes-Benz S-Class and BMW 7 Series; UHNWIs who pursue a dynamic and personalized lifestyle prefer sports cars such as Porsche 911 and Tesla Model S; UHNWIs who pay attention to family life prefer luxury MPVs and large-size SUVs.
6. Future Trends of Luxury Car Consumption Among South Korea’s UHNWIs
6.1 Personalization and Customization Will Become the Core Trend
In the future, personalized and customized luxury car consumption will become the core trend among South Korea’s UHNWIs. With the upgrading of UHNWIs’ lifestyle demands and the pursuit of personalized experience, they will pay more attention to personalized customization services that meet their own needs. Luxury car brands will further enhance their personalized customization capabilities, expanding the scope of customization from appearance and interior to technological configuration, power performance, and even vehicle function, providing one-stop personalized customization services for UHNWIs. For example, brands may launch customized models according to the personal preferences and living habits of UHNWIs, realizing the uniqueness of each luxury car.
7. Conclusions and Suggestions
This report comprehensively analyzes the luxury car consumption status, behaviors, needs, and trends of South Korea’s UHNWIs in 2025 through in-depth surveys and interviews. The main conclusions are as follows:
- South Korea’s UHNWIs have a high rate of luxury car ownership, with most owning 2-3 luxury cars, and the replacement cycle is relatively short (2-3 years). Their luxury car consumption is not only a pursuit of transportation functions but also a reflection of personal taste, social status, and lifestyle attitude.
- The brand preferences of UHNWIs are diversified, with Mercedes-Benz, BMW, and Porsche occupying the top three positions. There are obvious differences in brand and model preferences among different age and gender groups. Young UHNWIs prefer sports and new energy luxury cars, while middle-aged and elderly UHNWIs prefer traditional business luxury cars.
7.2.1 Suggestions for Luxury Car Brands
- Strengthen the research and development of personalized customization capabilities, expand the scope of customization, and provide one-stop personalized customization services for UHNWIs according to their personal preferences and needs. Shorten the customization cycle and improve the customization experience of UHNWIs.
Total number of samples: 320
Age distribution: 30-39 years old (22%), 40-50 years old (38%), 51-60 years old (30%), over 60 years old (10%)
Gender distribution: male (72%), female (28%)
Occupational distribution: financial industry (27%), real estate (21%), manufacturing (18%), IT and Internet (15%), entertainment and culture (8%), other industries (11%)
Regional distribution: Seoul (58%), Busan (15%), Incheon (12%), Daegu (8%), other regions (7%)
Senior executives from international luxury car brands: 8 people (Mercedes-Benz, BMW, Audi, Lexus, Porsche, etc.)
Senior automotive consultants serving UHNWIs: 7 people
Automotive industry investors: 5 people
UHNWI lifestyle advisors: 5 people
1. Primary data: Survey data and interview records collected by Pridebay from September 2025 to February 2026.
2. Secondary data: Data from the Korea Institute of Finance, Korea Automobile Manufacturers Association (KAMA), Korea Ministry of Environment, Shinhan Card, Arizton, Statista, and other institutions.
3. Industry reports: Research reports on the global and South Korean luxury car market released by international market research institutions and automotive industry associations.
