Deposit protection limit expanded by KRW 100 million...Short selling resumes in March

[Anchor]
Starting this year, the protection limit for deposits entrusted to financial companies will be expanded from 50 million won to 100 million won.

In addition, short selling, which borrows and sells stocks, will resume after improving the system from the end of March.

We have summarized the major financial systems that will change from this year.

This is reporter Ryu Hwan-hong.

[Reporter]
The deposit protection limit, which was 50 million won, increased by two more to 100 million won.

Even if a financial company goes bankrupt, the government guarantees up to 100 million won in deposits left by customers.

The specific timing of implementation will be decided this month after promulgating the amendment to the Depositor Protection Act.

Short selling of stocks, which had been temporarily suspended to improve the system, will resume at the end of March.

Financial authorities have decided to establish a computer system by the end of March that blocks borrowing and selling stocks without borrowing.

In April, additional sanctions such as suspension of account payments to illegal short sellers will be prepared.

The target institutions that can easily claim real loss insurance through mobile phone apps or the Internet without removing paper documents will be expanded to clinics and pharmacies.

If 70,000 more clinics and 25,000 more pharmacies are added from hospital-level medical institutions and health centers, claims for loss insurance will be more convenient than before.

In addition, government contributions to youth leaping accounts, which help young people build assets, will be expanded from up to 24,000 won per month to 33,000 won from this month.

This will allow you to receive up to 600,000 won more on a five-year expiration, which applies equally to previous subscribers as well as new subscribers.

I'm YTN's Ryu Hwan Hong.