Deposits in major banks increased by over ten trillion won in a week after the Bank of Korea cut the nation’s key interest rate to a record low one-point-25 percent.
 
According to the banking industry, deposits in won at the nation’s five major commercial banks KB Kookmin, Shinhan, Woori, KEB Hana and Nonghyup came to 984 trillion won on Thursday, up ten-point-four trillion won over just five days from 973-point-six trillion won on June 9th.
 
Deposits, installment deposits and demand deposits, which are key items of deposits in won, all posted growth. Particularly, demand deposits at the five banks sharply increased by six-point-nine trillion won to 390-point-one trillion won over the period.
 
In spite of the surprise rate cut, customers are believed to be keeping their money in a bank account without investing in stocks or property.