Korea’s Shadow Banking System Soaring: Central Bank
Recent data from the Bank of Korea shows that Korea’s shadow banking system has grown exponentially over the years, increasing potential risks and vulnerability in the Korean market.
Shadow banking refers to non-bank financial institutions that provide traditional banking services but outside conventional financial regulations.
According to data revealed during Tuesday’s parliamentary audit, Korea’s shadow banking system was sized at 1.662 quadrillion won ($1.5 trillion) at the end of 2015, accounting for 106.6 percent of the national GDP (1.559 quadrillion).
The full article is available on Korea Bizwire here.
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