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Korean financial sector’s overseas real estate investment drops in Q2

Published: 20 Dec. 2024, 10:12

The headquarters of the Financial Services Commission inside the government complex in Jongno District, central Seoul. [NEWS1]

Korea's financial sector saw their investment in overseas real estate drop in the second quarter of the year due to a protracted recovery in the market, data showed Friday.

Banks, insurers and other financial institutions had held an outstanding 56.3 trillion won ($38.8 billion) worth of investment in overseas real estate as of the end of June, down 0.7 trillion won from three months earlier, according to the data from the Financial Supervisory Service.

The end-June figure accounted for 0.8 percent of the local financial sector's total assets.

Insurers' outstanding investment in overseas real estate stood at 31.2 trillion won, followed by banks with 11.7 trillion won and securities firms with 7.8 trillion won.

By region, they held an outstanding 35.2 trillion won worth of investment in real estate in the North American region, trailed down by 10.5 trillion won in Europe, 3.9 trillion won in Asia and 6.7 trillion won in other regions, the data showed.

Yonhap