US dollar-denominated deposits at South Korean banks have risen nearly 30 percent since February, as investors have chased safer assets amid the novel coronavirus outbreak, industry data showed.

Outstanding dollar deposits at five local banks reached $47 billion as of June 11, up 28 percent from $36.6 billion tallied at the end of February, according to the data.

A rise in the foreign currency deposits came as investors bet on a stronger US dollar amid pandemic-caused economic uncertainties. (Yonhap)