Fewer people apply for individual savings account

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Fewer people apply for individual savings account

New applicants for the recently launched individual savings account have continued to fall, according to Korea Financial Investment Association. The new investment program went into effect on Monday, and a total of 586,281 people have signed up for it as of Friday, depositing a total 271.4 billion won ($233.1 million).

Some 320,000 people applied on the first day of its launch, but applications fell to 70,858 on Friday. However, the average deposit for account holders has increased. People deposited an average of 340,000 won on Monday, but it increased to 460,000 won on Friday.

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