South Korea is considering its first deposit insurance premium increase across all financial sectors since 2009. An interim study submitted to the Korea Deposit Insurance Corporation recommends raising banks' rate to 0.13% from 0.08%, which would add an estimated 912 billion won ($650 million) a year based on last year's payments. It also proposes rates of 0.5% for non-life insurers, 0.4% for life insurers, 0.16% for financial investment firms and 0.54% for savings banks. The changes, driven by the higher 100 million won per-person protection ceiling and the need to strengthen the deposit insurance fund, are targeted for 2028 but remain subject to negotiations. Financial institutions warn that the increases could reduce profitability or indirectly diminish consumer benefits.