Seoul: South Korea's net overseas financial assets experienced a decline in the first quarter, primarily due to an increase in external debt, as indicated by data from the central bank.

According to Yonhap News Agency, the country's net international investment position was reported at US$1.08 trillion at the end of March, marking a decrease of $18.1 billion compared to the previous quarter. Despite this decline, South Korea maintained net overseas financial assets exceeding 1 trillion won ($727 million) for the second consecutive quarter.

The all-time high for net overseas financial assets was recorded in the fourth quarter of 2024, when South Korea's net assets surpassed the $1 trillion threshold for the first time. This milestone placed South Korea as the seventh country globally to achieve such a feat.

Specifically, South Korea's external financial assets reached a record $2.52 trillion at the end of March, an increase of $4.2 billion from the previous year, driven by heightened stock investments and returns on investments. However, the country's external financial debt also rose by $22.2 billion from three months earlier, totaling $1.43 trillion, as reflected in the data.