South Korea's net overseas financial assets hit a record high in 2024, exceeding $1 trillion for the first time, data released by the Bank of Korea on Thursday showed.

South Korea's net international investment position reached $1.1 trillion at the end of 2024, an increase of $292 billion from the end of the previous year, according to preliminary data from the Bank of Korea.

This is the largest amount ever, marking South Korea as the seventh country in the world to report net overseas financial assets of more than $1 trillion.

Specifically, South Korea's overseas financial assets reached a record high of $2.49 trillion at the end of December, an increase of $166.3 billion from the end of the previous year, due to increased stock investments and investment returns.

However, external financial debt decreased by $125.7 billion to $1.39 trillion, the data showed.