As equities correct, funds are flowing into savings-oriented bancassurance. In
October, the five largest commercial banks sold more than KRW3 trillion of
bancassurance products; sales had fallen below KRW1 trillion in May when money
shifted into investment products. Bank-channel demand for ETFs has collapsed:
sales of ETF trust products at the four major banks fell to KRW2.9844 trillion
in Q3, a drop of over 90%.
