Some W1.4tr still in dormant accounts

Published : Mar 7, 2017 - 14:31 Updated : Mar 8, 2017 - 14:42

South Koreans have yet to claim 1.4 trillion won ($1.21 billion) in dormant financial assets despite the government's campaign to help them withdraw the money, the nation's watchdog said Tuesday.

Since the Financial Supervisory Service announced a set of relevant measures in June 2015, a total of 6.42 million people have recovered 1.24 trillion won from such accounts through the end of January, according to the agency.

Stacks of 50 thousand won bills (Yonhap)

By the type of asset, insurance claims topped the list with 1.01 trillion won, or 81.5 percent, followed by stocks or dividends with 108 billion won and trusts with 58 billion won.

The FSS said there is also 2.2 trillion won worth of card spending-related points which have not been used yet.

The FSS said it will step up efforts to help financial consumers find their dormant money especially by taking advantage of the latest information on their addresses. (Yonhap)