"Could I Have Unclaimed Money Too?" This Year’s Hidden Financial Assets Reach 18.4 Trillion Won... Government Launches Campaign to Find Them

Hidden Financial Assets Reach 18.4 Trillion Won

Yonhap News Agency

The Financial Services Commission and the Financial Supervisory Service announced on September 14 that they will launch a campaign to help financial consumers more easily search for and reclaim "hidden financial assets." The campaign will run for seven weeks across all financial sectors, from September 15 to October 31.

Hidden financial assets refer to financial assets such as deposits and savings accounts, insurance payouts, investment deposits (securities accounts), trusts, and credit card points that financial consumers have forgotten about and left unclaimed for a long time. As of the end of June, the total amount of hidden financial assets in South Korea reached 18.4 trillion won, up from 15.9 trillion won at the end of 2021, and has been increasing every year.

During the campaign period, the government will provide detailed guidance on how to search for hidden financial assets through both individual notifications from financial institutions and nationwide online and offline promotions.

Relevant organizations and financial companies (including mutual finance cooperatives) will post posters and information leaflets at branches, on their websites, social media channels, and apps. They will also send emails, text messages, and notification messages to individual customers to actively inform them about how to search for and reclaim hidden financial assets.

However, relevant organizations and financial companies will never request personal identification, account passwords, or other financial information via email or text message. They will also never ask for money transfers as a fee for reimbursement, so consumers should be cautious. In addition, since no internet URLs will be provided, financial consumers should not click on URLs from unknown sources.

Financial consumers can conveniently search for their "hidden financial assets" by visiting the "Fine" website and using the "Integrated Account Inquiry and Management" service, or by downloading the "Account Info" app on their mobile phones. It is also possible to check for hidden financial assets at individual financial company branches, customer centers, or through their apps.