The total amount of money deposited into high-value South Korean bank accounts that hold at least one billion won has surpassed 500 trillion won for the first time.

The Bank of Korea(BOK) said Monday that the balances across the country’s commercial bank accounts with deposits worth one billion won or higher amounted to 514-point-eight trillion won as of the end of June last year, up 23-point-six trillion won from six months earlier.

The BOK said the total balance for bank accounts that each hold deposits of 500 million won at most also increased by eleven-point-one trillion over the same period to 586-point-eight trillion won.

Deposits at bank accounts with the balance between 500 million won and one billion won were valued at 56-point-two trillion won in total, an increase of two-point-one trillion won.

The central bank presumed that more people are entrusting their money with banks as there are not many highly profitable financial products or commodities to invest in these days.