The Korea Herald


[Graphic News] Billion won deposits decline

By Korea Herald

Published : Sept. 5, 2013 - 21:00

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The number of bank accounts with more than 1 billion won deposited has been decreasing since the second half of last year, according to a Yonhap News report that compiled data from the Bank of Korea and major banks. Analysts attribute the decline to continued low interest rates and depositors’ concerns about the government moving to step up tax probes into the underground economy.