Bank of Korea headquarters in central Seoul [YONHAP] Korean households saved an additional 100 trillion won ($77.7 billion) or more during the Covid-19 pandemic due to reduced consumption and increased government support, a central bank report showed Monday. Excess savings made from 2020-2022 totaled between 101 trillion won and 129 trillion won, according to the report published by the Bank of Korea (BOK). The BOK defines excess savings as the amount of savings arising from above-trend savings rates in the pre-pandemic era.

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