SKorean households surplus fund falls

By Xinhua News Agency

Apr 05, 2024 12:11 am

SEOUL: South Korean households' surplus fund fell last year due to economic slump and higher borrowing costs, central bank data showed on Thursday.

The net surplus fund, or the value of financial assets minus financial debts possessed by households and nonprofit organizations, amounted to 158.2 trillion won ($117.3 billion) in 2023, down 50.8 trillion won ($37.7 billion) compared to the previous year, according to the Bank of Korea (BOK).

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