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[Graphic News] Idle money hits record high

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Published : 2014-03-16 21:04
Updated : 2014-03-16 21:04

Korea saw a record high level of short-term funds flowing into the financial system as economic uncertainty and a bearish stock market led investors to manage their money on a short-term basis, data showed Sunday.

The country’s short-term floating capital, such as securities accounts and currency in circulation, amounted to a record 712.89 trillion won ($665 billion) at the end of 2013, up from 666.36 trillion won in December 2012, according to data from the Bank of Korea and the Korea Financial Investment Association.

Investors have been increasingly putting their funds in short-term maturities since the global financial crisis of 2008. The value of such funds rose nearly 20 percent to 646.68 trillion won in 2009 from 539.57 trillion won at the end of 2008.

The catalyst has been the combination of a prolonged low interest rate and the slumping property market, market watchers said.

(596story@heraldcorp.com)

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