Economy · 2 sources combined
High-value corporate deposits
approach 960 trillion won
In short
As of end of June 2024, bank deposits exceeding 1 billion won surpassed 960 trillion won, marking a record high.
Strong semiconductor exports led companies to deposit more earnings in banks.
Corporate dollar deposits grew 44% in a year, showing active inflow of export proceeds.
Key facts
| When | As of end of June 2024, high-value deposits exceeding 1 billion won totaled 960 trillion 115 billion won, the highest on record |
|---|---|
| Who | Corporate accounts of export companies like semiconductors account for most of the increase in high-value deposits |
| What | High-value deposits increased 91 trillion 635 billion won (10.6%) from end of last year, accounting for 50.6% of the total |
| How | Top 5 banks' corporate dollar deposits reached 64.55 billion dollars as of end of October, up 44% in a year |
What it means for me
Direct impact on general depositors is limited, but it is an indicator to gauge economic trends.
If improvements in export company performance continue, it could lead to expectations for wage and bonus increases.
