Korean financial assets in the U.S. top $1 trillion for the first time: BOK

Korea's financial assets in the United States reached a record high last year, driven by increased investment in the U.S. stock market amid a rally on Wall Street, a central bank report showed Thursday.

The outstanding value of financial assets in the United States held by Korean individuals and companies reached $1.15 trillion at the end of last year, up $204.2 billion from a year before, according to the report by the Bank of Korea (BOK).

The reading topped the $1 trillion mark for the first time and has broken yearly records for the third consecutive year, dating back to 2023.

The amount also accounted for the largest share of overall overseas financial assets at 47.1 percent, according to the BOK.

The BOK said the record financial assets in the United States were driven by Korean individuals sharply increasing their investment in the U.S. stock market amid a bullish run on Wall Street last year.

Koreans' investments in U.S stocks totaled $802.8 billion, up from the previous high of $178.6 billion reported a year ago.

Last year, the Dow Jones Industrial Average rose 13 percent, and the Nasdaq composite jumped 20.4 percent.

Yonhap