Seoul: The Republic of Korea's net overseas financial assets experienced a decline in the first quarter compared with the previous quarter, primarily due to an increase in external debt, as revealed by central bank data.
According to Emirates News Agency, the country's net international investment position was recorded at US$1.08 trillion as of the end of March, marking a decrease of $18.1 billion from three months earlier. Despite this decline, Korea maintained net overseas financial assets of over 1 trillion won ($727 million) for the second successive quarter.
The fourth quarter of 2024 saw Korea achieving an all-time high in net assets, surpassing the $1 trillion mark for the first time and positioning Korea as the seventh country globally to reach this milestone.
The country's external financial assets reached a record high of $2.52 trillion by the end of March, showing an increase of $4.2 billion from the previous year, driven by increased stock investments and returns on investments. Meanwhile, external financial debt rose by $22.2 billion from three months earlier, reaching a total of $1.43 trillion.