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S. Korea's bank deposits increase by fastest rate amid COVID-19 Updated: 2020-07-27 13:25:31 KST

South Koreans are apparently putting more money than ever into their savings accounts despite the government's efforts to boost consumption during the pandemic.
The Bank of Korea says deposits in the first half of the year totalled almost 92 billion U.S. dollars.
That's more than double the figure a year earlier, and the biggest increase on record.
The BOK says households have borrowed more money to get through tough times but they're holding on and waiting for the right time to spend it.
Experts say this shows the government's policies to boost the economy are not having a big enough impact.
KOGL : Korea Open Government License
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