Bank run at Tongyang Securities cools since crisis
Seoul - Yonhap
Fund withdrawals by Tongyang Securities Inc. customers have declined sharply since the immediate aftermath of its parent firm Tong Yang Group's default in September, amid a move underway to sell the brokerage arm, data showed Thursday. The outstanding amount of deposits at Tongyang Securities stood at 2.3 trillion won (US$2.17 billion) at the end of November, equivalent to only 60 percent of the total it held in late September, according to the data by the Korea Investors Service Inc. (KIS).
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