'Finding Hidden Financial Assets' Campaign Refunds 2 Trillion Won

On the 16th, the Financial Services Commission announced that as a result of conducting the 'Hidden Financial Assets Recovery Campaign' for six weeks starting from November 13 last year, it refunded 2.0378 trillion won (11.4%) to financial consumers out of the total 17.9138 trillion won in hidden assets. This figure represents a 36.1% increase compared to the previous year's campaign performance (1.4973 trillion won).

This campaign involved the entire financial sector, including banks, insurance, securities, credit cards, savings banks, and mutual finance, to enable more financial consumers to recover their hidden financial assets. Investor deposits remaining in securities accounts were also added to the campaign targets.

By type of financial asset, insurance payouts were the highest at 908.9 billion won, followed by deposits and savings (582.9 billion won), securities (359.5 billion won), card points (113.1 billion won), and trusts (1.4 billion won). The securities assets also included long-term inactive investor deposits amounting to 351.8 billion won.

There was also a change in the method by which financial consumers received refunds of hidden financial assets. The proportion of refunds received non-face-to-face via internet or mobile reached 63%, a significant increase compared to 5.2% in 2019. During the same period, the face-to-face proportion sharply decreased from 94.8% to 37.0%.

When dividing hidden financial assets by age group, those aged 60 and above accounted for the largest share at 49.7%. In contrast, the proportions for those in their 20s (3.4%) and 30s (8.0%) were relatively low. This was analyzed to be due to the relatively few types of financial assets held by young adults starting their careers and their proficiency in using financial applications.

Meanwhile, even outside the campaign period, financial consumers can always inquire about and receive refunds for hidden financial assets by visiting branches or through the internet or mobile phones. Additionally, according to the improvement plan for hidden financial asset management standards, authorities plan to strengthen guidance to consumers before and after the maturity of financial assets, require consumers to designate automatic deposit accounts upon maturity, and take measures to prevent the occurrence of hidden financial assets in advance.

This content was produced with the assistance of AI translation services.