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Financial Sector Overseas Real Estate Holdings Rose in Q4
South Korean financial institutions held 55.9 trillion won in overseas real estate investments at the end of December, an increase of 800 billion won from the prior quarter. Insurers accounted for the largest share, followed by banks and securities firms.
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The sector's total outstanding investment reached 55.9 trillion won, equivalent to US$36.4 billion, as of December 31. That figure was 800 billion won higher than the amount recorded three months earlier. Insurers held 31.4 trillion won of the total. Banks accounted for 11.9 trillion won and securities firms for 7.2 trillion won.
Of the 32.3 trillion won placed in single investment sites, 2.08 trillion won, or 6.56 percent, was classified as carrying an elevated risk of an event of default. An event of default occurs when a borrower's credit risk increases and a lender recalls a loan before its scheduled maturity, potentially leading to losses for the domestic institutions that financed the property.
The data cover banks, insurers, and other financial firms supervised by the Financial Supervisory Service.
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