S. Korea's Shortterm Floating Funds Hit Record High

10/30/2014 9:57:05 AM

(MENAFN- Qatar News Agency) Seoul October 28 (QNA) - South Korea's idle money yet to be committed to long-term investment hit a record high due to the lingering uncertainties over the economy.

The data from the Korea Financial Investment Association and the Bank of Korea showed Tuesday that the short-term floating funds in the country stood at 757 trillion 438-point-three billion won as of the end of August according to Korea's (KBS WORLD) website.

Of the funds 59 trillion won was cash while 133 trillion won was on demand deposits. The funds at savings deposits amounted to 352 trillion won.

The short-term floating funds have continued to grow from 540 trillion won in 2008 to 713 trillion won in 2013.

Experts say stimulus economic policies are yet to bear fruit in luring investors into the market. (QNA)

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