Idle money hit record high amid uncertainties in 2013

Short-term funds flowing in the South Korean financial system rose to a record high last year as economic uncertainties and a bearish run on the local stock market prodded people to manage their money on a short-term basis, data showed Sunday. The country's short-term funds, including currency in circulation, demand deposits and money parked for stock investment, amounted to a record 712.89 trillion won (US$665.94 billion) as of the end of December, up from 666.36 trillion won posted a year ago, according to data based on figures from the central bank and the Korea Financial Investment Association.