South Korea’s overseas financial assets hit new high in 2021

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SEOUL, June 28 (Yonhap) — South Korea’s financial assets abroad have hit a new high in 2021 thanks in large part to a jump in investment in U.S. stocks, data from the South Korea showed on Tuesday. central bank.

The country’s external financial assets stood at $1.715 billion at the end of December last year, up $177.8 billion from a year earlier, according to preliminary data from the Bank of Korea ( BOK).

The BOK attributed the annual rise mainly to increased investment in the United States and European Union countries amid stock market rallies.

Financial assets in the United States jumped from $141.8 billion to $675 billion, hitting a new high and accounting for 39.4% of the total.

South Korean entities’ financial assets in the EU increased by $11.5 billion to $236 billion, and their financial assets in China increased by $8.9 billion to $164.6 billion. dollars.

In line with an international standard, the tally excluded South Korea’s foreign exchange reserves, which stood at $463.1 billion at the end of December, the BOK said. Foreign exchange reserves include securities and deposits denominated in foreign currencies, International Monetary Fund reserve positions, special drawing rights and gold bullion.

The data also showed the country’s external financial liabilities increased by $25.5 billion to $1.519 trillion at the end of December.

External liabilities held by the United States were the largest with $386.2 billion, or 25.4% of the total, followed by Southeast Asian countries with $323.9 billion and the EU with $251.5 billion.

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