Deposit Growth Drives South Korea's June Money Supply to Continue Rising

TechFlow news, August 14, data released by the Bank of Korea on Friday showed that, driven by the rise in short-term deposits and money market fund sizes, South Korea's money supply continued its upward trend in June. Preliminary statistical data from the Bank of Korea showed that the core indicator M2 measuring money supply had an average size of 4,213 trillion won (equivalent to $2.97 trillion) in June, up 0.7% from the previous month, an increase of 29.4 trillion won. This indicator has maintained a steady upward trend since last November. The Bank of Korea stated that short-term deposits and money market funds, mainly invested in short-term financial products, both increased in June.