Overseas investments made by Korean institutional investors grew at the slowest pace in five years last year due mainly to sluggish global stock markets, the central bank said on Feb. 27.
The value of foreign stocks and bonds owned by institutions came to a record US$262.3 billion as of the end of 2018, up US$16.75 billion from a year earlier, according to the data compiled by the Bank of Korea.
It marked the slowest on-year gain since 2013 when the number was US$13.2 billion.
The amount of foreign stocks held by Korean institutions totaled US$78.09 billion as of end-December, up a three-year low of US$4.99 billion from a year earlier. Their foreign bond holdings rose US$14.42 billion to US$142.8 billion over the cited period.
Investments in Korean papers by local institutions retreated US$2.66 billion to US$41.41 billion over the cited period.
By Ram Garikipati and newswires (email@example.com)