Deposit Guide
Guide to Deposit Insurance System
What is Deposit Insurance?
The Deposit Insurance System protects ordinary deposits by guaranteeing them under certain amount against any unforeseen risks, for example, the possible bankruptcy of the bank.
Recent Status of Insured Depository Products
| Type | Insured Financial Products | Excluded Financial Products |
|---|---|---|
| Bank | Demand Deposits, Time and Savings Deposits, Accumulative Deposits, Secondary Bills, Foreign Currency Deposits | RP, CD, Insurance related to Financial Products |
| Trust | Principal-Covered Trusts (Pension Trusts, Retirement Trusts, etc) | Performance Based Trusts |
Deposit Insurance Claim Limitations
Sum of principal and designated interest coverage can total up to 50 million won
Insured Depository Products by Type of Financial Institution
| Type of Financial Institution | Financial Product | Insured | Excluded | |
|---|---|---|---|---|
| Banks | Bank | Demand Deposits, Time and Savings Deposits, Accumulative Deposits, Secondary Bills, Foreign Currency Deposits | O | |
| CD, Bonds issued by Bank | O | |||
| RP | O | |||
| Trust | Principal-Covered Trusts such as Pension Trusts, Retirement Trusts, etc | O | ||
| Development Trusts | O | |||
| Performance Based Trusts | O | |||
| Merchant Banks | Notes Payable, Issued Notes, CMA | O | ||
| 보증어음(담보부매출어음) Guaranteed Promissory Notes |
O | |||
| RPs, Beneficiary Certificates, CPs, Bonds issued by Merchant Banks, | O | |||
| Securities Companies | Cash balance of Securities Savings, | O | ||
| Subscriber Deposits, Collateral for Loaned Securities | O | |||
| RP, Indirect Investment Products, Bonds Issued by Stock Companies | O | |||
| Insurance Companies | Individual Policies, Severance Benefits Policies | O | ||
| Corporate Insurance Policies | O | |||
| Reinsurance Policies, Surety Policy | O | |||
| Mutual Saving Bank | Deposit, Notes Payable, Accumulative Deposits, Demand Deposits, Time and Saving Deposits, Accumulative Deposits, Secondary Bills |
O | ||
| Credit Unions | Installment deposits, checking deposits | Under the Credit Union Act |
||
| Investment Trust | Beneficiary certificate, MMF | O | ||
| Community Credit Cooperation |
Deposit, installment deposit | Under Community Credit Cooperative Act | O | |
| Agricultural and Fishery local labor Union | Deposits | Under Mutual Financial Depositor Insurance act | ||
