High-yield savings accounts offering up to 8% interest.
As stock market volatility grows lately, money is reportedly flowing back into bank deposits and savings accounts.
Banks are successively launching savings products with maximum interest rates in the 8% to 9% range.
The balance of time deposits at the five major banks increased by more than 14 trillion won in just nine business days compared to the end of July.
Conversely, funds waiting in the stock market are rapidly decreasing.
This highlights a distinct reverse money move phenomenon, with capital shifting from high-risk assets to safe-haven assets.
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Lee Gang
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