South Korean savings banks are raising deposit rates as deposit-like funds move out amid a stock market tilt. The average 1-year term deposit rate at 79 savings banks reached 3.74 percent as of June 26, the highest since November 2024. OK Savings Bank lifted rates to 4.5 percent on some products, while others raised term and demand-account rates toward 3 percent. Banks have also increased deposit rates, narrowing the gap.

South Korea\'s Financial Supervisory Service and the Korea Financial Training Institute on Thursday signed an agreement with the Korea Federation of Banks and eight financial holding companies to foster financial consumer protection specialists and strengthen capabilities. The parties will expand consumer protection training for financial company employees and work to raise awareness across the sector. New and revamped courses will target executives, prospective chief consumer officers, department heads, practitioners and branch sales staff, with stronger training on mis-selling prevention and voice phishing response.