Of the combined savings deposits held by major banks in South Korea, nearly half belonged to the nation’s top 1 percent of income earners, a report from the Financial Supervisory Service showed Sunday.



According to the report released via a minor opposition Bareunmirae Party lawmaker, 18 commercial banks operating in Korea held a combined 283.3 trillion won ($238.9 billion) on behalf of its clients in the top 1 percent income bracket, which accounted for 45.5 percent of the total deposits, as of July. The total deposits came at 623.3 trillion won in the cited period.



The top 1 percent’s savings deposit had increased by nearly 1 percent compared to 2014, when the corresponding figure accounted for 44.3 percent of total deposits. It has hovered above the 45 percent mark since 2017.





(Yonhap)