▲ The Bank of Korea in Seoul (Yonhap)

foreign assets-tally

S. Korea's overseas financial assets rise to record high in Q1: BOK

SEOUL, May 27 (Yonhap) -- South Korea's overseas financial assets rose to a fresh record high in the first quarter, driven by increased direct investments in the United States, central bank data showed Wednesday.

The country's external financial assets stood at US$2.88 trillion as of end-March, up $15 billion from three months earlier, according to preliminary data from the Bank of Korea (BOK).

It marks the largest amount ever, though the pace of its growth slowed from the fourth quarter's increase of $105 billion.

Of external financial assets, direct investment rose $15.4 billion to $851.7 billion from three months earlier on increased U.S. investment.

Residents' securities investments fell $15.1 billion on-quarter to $1.24 trillion as of end-March as the U.S. stock market struggled in the first quarter.

External financial liabilities increased $147.1 billion won to a record $2.13 trillion as foreigners' investment in domestic securities surged in line with sharp increases in local stock prices.

Non-residents' securities investment rose $108.3 billion to $1.47 trillion, while direct investment fell $1.3 billion to $320.7 billion.

As the increase in external financial liabilities outpaced that of external financial assets, the country's net international investment position fell $132.1 billion on-year to $753.6 billion.

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