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S Korea's financial assets in US hit record high of $962.6 billion

QNA & Agencies Seoul South Korea's financial assets in the United States reached an all-time high at the end of 2024, driven by increased investment in the US stock market and a strong performance on Wall Street, according to a report released today by the Bank of Korea. The report revealed that the total value of these assets, which include investments by South Korean individuals and corporations, stood at $962.6 billion as of the end of last year. This marks an increase of $158.1 billion compared to 2023. This figure represents the highest level ever recorded since data collection began in 2002 and accounts for 45.9 percent of South Korea's total overseas financial assets. The central bank attributed the surge primarily to individual Korean investors expanding their holdings in US equities, along with significant investment by South Korean companies in building factories and facilities across the United States, the world's largest economy. According to the report, South Korean investments in US stocks alone totaled approximately $121.7 billion in 2024, the highest annual figure on record. The Bank of Korea also noted that this growing financial exposure underscores the deepening economic ties between South Korea and the United States, particularly in high-tech sectors such as semiconductors, electric vehicles, and batteries. Analysts suggest that favorable US market conditions, coupled with strategic policy incentives like the Inflation Reduction Act, have further encouraged Korean firms to scale up their presence in the American economy.