SEOUL, July 8 (Xinhua) -- South Korean households' surplus fund rose for the third successive quarter due to higher deposits and securities, central bank data showed Tuesday.
The net surplus fund, or the value of financial assets minus financial debts possessed by households and non-profit organizations, grew 30.3 trillion won (22.1 billion U.S. dollars) to 92.9 trillion won (67.9 billion dollars) in the January-March quarter compared to the previous quarter, according to the Bank of Korea (BOK).
The surplus fund increased 2.3 trillion won (1.7 billion dollars) in the third quarter and 25.3 trillion won (18.5 billion dollars) in the fourth quarter of last year.
Financial assets, such as deposits and securities, mounted 30.0 trillion won (21.9 billion dollars) in the first quarter from three months earlier.
The deposit holdings soared 28.5 trillion won (20.8 billion dollars), but the possession of insurance and pension fell 21.8 trillion won (15.9 billion dollars).
The holdings of equity securities and investment funds swelled 18.8 trillion won (13.7 billion dollars).
Financial liabilities shrank 400 billion won (292.3 million dollars) in the first quarter compared to the previous quarter.
The BOK cut its benchmark interest rate by 25 basis points in February and May after reducing it by the same basis points in October and November last year. ■
