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S. Korea's national assets hit new high in 2021

All News 13:37 July 21, 2022

SEOUL, July 21 (Yonhap) -- South Korea's overall wealth grew more than 11 percent on-year to a new record high in 2021 thanks mainly to increased property prices, central bank data showed Thursday.

The country's national assets had come to 19,808.8 trillion won (US$15.08 trillion) as of the end of last year, up 11.4 percent from a year earlier, according to the national balance sheet from the Bank of Korea (BOK).

It marked the highest on-year growth rate since 2007, when national assets surged 13.3 percent.

The BOK attributed the increase mainly to a sharp rise in the value of non-productive assets, such as land and homes.

The net value of non-financial assets purchased last year expanded by 229 billion won from the previous year.

Real estate accounted for 74.4 percent of the national assets last year, compared with 74.8 percent a year earlier.

The central bank also estimated the country's per-household net assets at 544.8 million won in 2021, up about 8 percent from the prior year thanks to higher property prices.

Land, homes and other buildings took up 75.3 percent of local households' net worth, according to the data.

S. Korea's national assets hit new high in 2021 - 1


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