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South Korea's Foreign Reserves See Record Monthly Increase in August

morning · · thread: South Korea's Foreign Reserves See Record Monthly Increase in August

2 sources · South Korea · 1 of them is linked to a state

Who reported this

  • Yonhap South Korea · Centre · State-affiliated · Cooperative; statutory national agency with state subsidy
  • The Korea Herald South Korea · Centre-right · Herald Corporation (Yeongpoong Group)

What the colours mean

  • Left
  • Centre-left
  • Centre
  • Centre-right
  • Right
  • A hatched block means the outlet is affiliated with, or controlled by, a state.

Political lean describes where an outlet sits within the politics of its own country. It is never a position on a single global scale.

Political lean is comparable inside one country and not across them, which is why the bar groups by country first. Publicly funded broadcasters are not marked as state-linked.

The owner of each outlet is listed as a matter of record, not as a judgement about the outlet.

Every source for this story reports from South Korea.

South Korea's foreign reserves rose by the largest monthly amount since data collection began in 1971, according to the Bank of Korea. As of the end of August, the country's foreign reserves stood at 442.28 billion US dollars, which is an increase of 14.33 billion US dollars from the previous month. This balance represents the highest level since May 2022, when reserves were 447.71 billion US dollars.

The central bank attributed the sharp increase to a rise in foreign currency deposits held by financial institutions, an increase in the US dollar value of overseas assets, and management profits. Foreign securities, which include US Treasuries, rose by 7.07 billion US dollars to reach 387.07 billion US dollars. These securities account for 87.5 percent of the total foreign reserves.

Additionally, the value of foreign currency deposits increased by 7.17 billion US dollars to 30.3 billion US dollars, and special drawing rights rose by 60 million US dollars to 15.77 billion US dollars. Gold bullion holdings remained unchanged at 4.79 billion US dollars.

How each side framed it

Centre
The outlet presented the data as a straightforward financial report without additional framing.
Centre-right
The outlet presented the data as a straightforward financial report without additional framing.

Sources

100% of the statements in this article were traced back to the source articles listed above.