The rich may be getting richer, but how they got there differs between the merely rich and the super-rich, according to a new survey by Citibank of Korea’s high-net wealth individuals.

According to the survey of 527 Koreans who are among the highest 10 percent of the nation’s population in terms of assets, 47 percent said they had made their fortunes from their salaries and 19 percent from wealth accumulated from their business activities.

But for those who boasted of having assets of 3 billion won ($2.5 million) or more, who fall into the category of the super-rich, 21 percent said they had gained their fortune from inheritances and 27 percent from the rising value of their real estate holdings.

Citibank said that the top 10 percent of the nation’s population had assets of at least 120 million won.

“My apartment was purchased at a price of around 250 million won right before the Asian financial crisis in 1997 but the price is now hovering around 1.4 billion won,” said a resident in Seoul’s Gangnam area.

However, Citibank said that while the financial conditions of the rich will improve in the second half, many of the affluent had a negative view of prospects for real estate prices, with the most pessimistic being those who live in the Gangnam area.

The rich are taking a more cautious attitude toward consumption over the next six months, with 54 percent saying they will be more prudent. Spending will focus on family-oriented activities such as travel and dining out.

However, that would not stop many from considering living overseas for more than one year, with 61 percent saying they are in favor of the idea. The main reason is to support the education of their children in an English-speaking country. In addition, 7 percent said they were considering immigrating to another country.

Citibank conducted the survey as part of efforts to attract high net-worth individuals for their wealth management services. The survey disclosed, however, that those questioned selected Shinhan Bank as the most popular bank for these services followed by Kookmin Bank and Citibank.

Most of the rich said retirement planning was the biggest reason for financial investments. The preferred financial instruments were deposit/installment savings, followed by insurance, equity and mutual funds.

They preferred to diversify investments across several countries, with China at 35 percent of the respondents slightly favored over Korea at 34 percent. Other countries included India at 27 percent, Brazil at 13.5 percent and Russia at 10 percent.

But deposit and installment savings were preferred over the next six months because “investors are still in favor of safe investments,” said Citibank. Only if the one-year bank deposit rate falls below 2.5 percent, would they consider alternative investments, such as equities or mutual funds. The cautious attitude appears to reflect continued concerns over the global financial situation, possibly in reaction to the euro-zone sovereign debt woes.