S. Korea's overseas financial assets at new high in 2020

SEOUL, June 23 (Yonhap) -- South Korea's overseas financial assets touched a new high last year as investment in advanced economies rose amid stock rallies, central bank data showed Wednesday.

As of the end of 2020, the outstanding financial assets invested overseas by South Korean entities came to about US$1.519 trillion, up $207.2 billion from a year earlier, according to preliminary data from the Bank of Korea (BOK).

The on-year rise was largely attributed to increased investment in the United States and European Union countries.

Financial assets in the United States rose $114.8 billion to $534.5 billion, reaching a new high and accounting for 35.2 percent of the total.

South Korean entities' financial assets in the EU increased $40.3 billion to $291.9 billion, while their financial assets in China gained $16.7 billion to $155.5 billion.

By currency, overseas financial assets held in U.S. dollars came to $861.4 billion as of end-2020, accounting for 56.7 percent of the total, with those held in euros coming to $161.5 billion, or 10.6 percent of the total.

kdh@yna.co.kr
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