Seizure-protection deposit accounts designed to shield basic living subsidies and pensions from creditor claims have seen rapid uptake, with nearly 1.3 million accounts opened at six major banks and two internet-only banks by the end of June. According to data from the Financial Supervisory Service, total subscriptions reached 1,297,594 as of June 30, and account balances have surged past 952.2 billion won, edging close to the 1-trillion-won mark.

Among traditional lenders, NH Nonghyup Bank led in 가입자 with 321,520 accounts, followed by Woori Bank (219,754), KB Kookmin Bank (212,493), Shinhan Bank (194,387), and Hana Bank (116,335). Internet banks also contributed significant numbers: Kakao Bank attracted 106,831 subscribers since launching its seizure-protection product earlier this year, while Toss Bank added 12,019 accounts.

New enrollments in the first half of 2023 totaled 361,373—more than double the full-year figures recorded by established banks in 2022. Existing lenders registered 241,137 new subscriptions, roughly 2.5 times last year’s annual tally of 95,449. Kakao Bank alone posted 109,757 fresh sign-ups in six months, making it the single fastest-growing channel, and Toss Bank saw 10,479 newcomers. By contrast, only about 20,800 accounts were closed over the same period, a ratio of more than 17 to 1 in favor of new openings.

Account holders benefit from legal protection for deposits such as basic living allowances and state pensions, ensuring that vulnerable households retain minimum levels of income free from seizure. Lawmakers and consumer advocates say the trend underscores the success of “inclusive finance” measures in lowering barriers for low-income citizens and urge further enhancements to expand access and product variety.