The number of South Koreans with assets exceeding 30 million dollars, known as ultra-high net worth individuals(UHNWI), is estimated to have jumped 15 percent on-year in 2020 to six-thousand-80.

According to research firm Wealth-X's latest report on Sunday, South Korea ranked eleventh among countries in terms of the number of such well-to-do individuals, surpassing Italy and Russia.

Wealth-X also speculated that due to the rapid rise of such individuals, South Korea could compete against India for tenth place this year.

The U.S. topped the list with 101-thousand-240 ultra-high net worth individuals, followed by China at 29-thousand-815, Japan at 21-thousand-300, Germany at 15-thousand-435 and Canada at eleven-thousand-10.

In terms of cities, San Jose in California had the most proportion of ultra-high net worth people per population, about one in every 727 people. Discounting the population ratio, New York City topped the city ranking with eleven-thousand-475.

The number of ultra-high net worth individuals across the globe rose one-point-seven percent on-year to 295-thousand-450.