Individuals’ foreign currency bank accounts top 10 million

An official checks banknotes at a Hana Bank branch in Seoul on May 7, 2024. [YONHAP]

 
The number of foreign currency bank accounts held by individuals has topped the 10 million mark as more opted to open such accounts for overseas stock trading and trips abroad, industry data showed Wednesday.
 
According to the data, the number of foreign currency accounts at the top five banks — KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup — stood at 10.37 million as of Thursday, up 8.9 percent from the end of last year and 47.5 percent from the end of 2023.
 
The growth in foreign currency bank accounts was led by a spike in travel money cards, through which overseas travelers can withdraw foreign currencies.
 
The data showed the outstanding amount of foreign currency bank accounts at the top five lenders stood at $13.4 billion as of last Thursday, decreasing from $13.6 billion at the end of last year and from $14.6 billion at the end of 2023.
 

Yonhap