September 22, 2002 16:45
Money remittances for study and training overseas hit the highest monthly figures in July in the four years and eleven months since August 1997. July is a vacation month for Korean students, and many of them go abroad to study a foreign language.
According to the Bank of Korea on Sunday, the total remittance for such purposes reached US$141.6 million in July, the largest after the US$139.3 million sent in August 1997. The central bank also noted that the total amount of money remitted to students overseas soared to US$777 million in the January-July period, surpassing the total remittances last year of W698 million.
The BOK said it expects the monthly record for overseas remittances to be met for August, as universities in the United States usually begin classes again in September. The U.S. is the most popular destination for Korean students.
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