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Financial News: South Korea Posts $6.57 Billion Current Account Surplus

South Korea Posts $6.57 Billion Current Account Surplus In August

10/07/2020 - 19:40:00 (RTTNews)

(RTTNews) - South Korea saw a current account surplus of $6.57 billion in August, the Bank of Korea said on Thursday - down from $7.45 billion in July.

The goods account surplus widened to $7.01 billion, compared to the $4.63 billion figure in August 2019.

The services account deficit decreased to $0.80 billion, from $1.56 billion in August last year, owing to an improvement in the travel account.

The primary income account surplus narrowed from $2.02 billion the year previously to $0.63 billion in August of this year, in line with a decrease in the income on equity.

The secondary income account saw a $0.27 billion deficit.

Looking at the financial account, net assets increased by $4.84 billion in August. Direct investment assets increased by $2.80 billion, and direct investment liabilities fell by $0.99 billion.

There was a $2.83 billion increase in portfolio investment assets during the month, and a $2.43 billion increase in portfolio investment liabilities.

Financial derivatives posted a net decrease of $0.22 billion.

In terms of other investments, there was an increase of $1.75 billion in assets and an increase of $0.85 billion in liabilities. Reserve assets decreased by $0.03 billion.

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