Seoul: South Korea's financial assets in the United States soared to a new all-time high last year due to increased investments in the U.S. stock market amid a rally on Wall Street, as indicated in a central bank report released Thursday.
According to Yonhap News Agency, the Bank of Korea (BOK) reported that the outstanding value of financial assets in the U.S. held by South Korean individuals and companies rose to US$1.15 trillion at the end of last year. This marked an increase of $204.2 billion compared to the previous year.
The achievement marked the first time the financial assets have exceeded the $1 trillion mark, continuing a trend of record-setting growth for the third consecutive year since 2023. The assets in the U.S. represented 47.1 percent of South Korea's total overseas financial assets, as noted by the BOK.
The BOK attributed the rise in U.S. financial assets to a significant increase in investment by South Korean individuals in the U.S. stock market, which experienced a bullish phase last year. South Korean investments in U.S. stocks amounted to $802.8 billion, significantly up from the previous high of $178.6 billion reported a year earlier.
The previous year saw notable gains in major U.S. stock indices, with the Dow Jones Industrial Average increasing by 13 percent and the Nasdaq Composite Index rising by 20.4 percent.