2021 Q2: South Korean households' surplus funds decrease 36.4 trillion won due to drop in deposits, driven by housing demand.
In Q2 2021, South Korean households' surplus funds decreased by 36.4 trillion won (about $30.6 billion) to 41.2 trillion won, primarily due to a significant drop in deposits. This decline, attributed to rising housing demand, led home buyers to withdraw savings. While deposit holdings fell by 36.8 trillion won, investments in equities and funds rose by 10.5 trillion won. The Bank of Korea's benchmark interest rate remains at 3.50%.
October 07, 2024
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