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Financial News: South Korea May Current Account Surplus $10.76 Billion

South Korea May Current Account Surplus $10.76 Billion

07/06/2021 - 19:45:00 (RTTNews)

(RTTNews) - South Korea posted a current account surplus of $10.76 billion in May, the Bank of Korea said on Wednesday - up from $1.91 billion in April.

The goods account surplus increased to $6.37 billion, compared to $2.61 billion in May 2020.

The services account deficit decreased to $0.56 billion, from $0.65 billion in May last year, owing to an improvement in the transport account.

The primary income account surplus increased from $0.55 billion the year previously to $5.49 billion in May 2021, in line with an increase in the income on equity.

The secondary income account saw a $0.54 billion deficit.

Looking at the financial account, net assets increased by $8.38 billion during May.

Direct investment assets increased by $3.44 billion, and direct investment liabilities increased by $0.84 billion.

There was a $4.38 billion increase in portfolio investment assets during the month, and a $1.50 billion decrease in portfolio investment liabilities.

Financial derivatives posted a net decrease of $0.20 billion.

In terms of other investments, there was an increase of $2.54 billion in assets and an increase of $4.81 billion in liabilities.

Reserve assets increased by $2.36 billion.

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