South Koreans in their 20s and 30s are financially more conservative than older adults as they suffer economic hardships due to a tight job market, a poll showed Wednesday.

The survey of 1,500 people across the nation showed that those in that age group prefer safe assets like bank deposits or homes to stocks and other riskier investments, compared with older generations.

Those millennials went to school in the midst of the painful 1997 Asian financial crisis and entered the labor market after the 2008 global financial crisis.

In South Korea, those young people are dubbed the "Sampo Generation," meaning that they give up employment, marriage and childbirth because of social and economic pressures that force them to have fewer job opportunities, and are unable to afford higher rent and childcare expenses.

According to the survey taken by the Hana Institute, nearly 60 percent of the Sampo Generation respondents own bank accounts that give holders priority when subscribing for apartments with stable interest income.

The ratio was higher than 53.5 percent for members of Generation X, who were born in the late 1960s and 1970s and 46.5 percent for baby boomers, who are in their 50s or older.

Some 70 percent of the Sampo Generation saves money on fixed-rate bank deposit accounts, while 65 percent of baby boomers hold such accounts.

Slightly over half of those in their 20s and 30s think they should own a house, with comparable figures coming to 41.7 percent for Generation X and 46.7 percent for baby boomers.

However, 18 percent of the younger generations put money in mutual funds, while the figure hovers above 20 percent for older generations.

More than half of the Sampo Generation start to provide for old age before they turn 30, while the older generations begin at around 40.

"Among the three generations, the so-called Sampo Generation is the most conservative in asset management," said Doh Chul-hwan, a researcher at the institute. "It is hard for them to get jobs and secure stable income as they have experienced a downbeat economic cycle during their entire life."

South Korea has been plagued by high youth unemployment as companies are reluctant to hire amid a protracted period of low economic growth.

According to government data, the unemployment rate for young people between 15 and 29 reached 10.2 percent in June, much higher than the country's overall jobless rate of 3.9 percent. (Yonhap)