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More than a thousand customers lined up in front of the Busan II Savings Bank located in Busan yesterday...the line formed by depositors extended about 100 metersfrom the door...
...analysts expressed concerns that public panic about savings banks could spread. “The fears of depositors are mounting, which could lead to bank runs at a number of savings banks, and it could eventually spread to the entire savings bank industry,” said Jung Sung-tae, a researcher at LG Economic Institute.
Originally posted by silent thunder
The headline of this article will be a bit misleading for most readers since it deals specifically with South Korea, rather than being about a global situation. Even so, South Korea is a relatively large, mostly-developed market, and a bank run there would be unexpected by just about everyone.