Excess funds held by South Korean households fell in the second quarter of this year from a quarter earlier on increased purchases of new houses, data showed Wednesday.

Surplus funds held by households here, including nonprofit organizations, totaled 10.5 trillion won ($9.2 billion) during the April-June period, compared to 14.1 trillion won in the previous quarter, according to preliminary data from the Bank of Korea.

The BOK said the decline is blamed on new home purchases.
 

The number of home transactions came to 259,000 across the country in the second quarter, compared to 199,000 in the first quarter, according to data compiled by the government.

Nonprofit organizations include institutions that serve households, such as consumer groups, charity and relief organizations, religious groups and labor unions.

Meanwhile, the capital shortage experienced by non-financial firms came to 14.8 trillion won during the April-June period on brisk investment in construction and facilities by firms.

The value of excess funds held by the central and local governments also rose to 14.5 trillion won as of end-June from 6.6 trillion won three months earlier. (Yonhap)