Korean financial firms face growing risks in overseas property investments

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The story "Korean financial firms face growing risks in overseas property investments" was covered 17 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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Korean financial firms face growing risks in overseas property investments - Korea Economic Daily

Quick Summary:

According to the Financial Supervisory Service (FSS), the balance of Korean financial firms’ overseas alternative investments stood at 55.8 trillion won ($38.8 billion) at the end of September 2024, of which 2.64 trillion won worth of property investments faced potential losses.

Last December, sources said the NPS plans to invest 2 trillion won in the domestic real estate market in 2025 – its largest annual investment ever – to take advantage of an expected recovery in the commercial property sector amid low-interest borrowing costs.

Financial firms’ overseas property investment balance of 55.8 trillion won at the end of September – amounting to 0.8% of the financial sector’s total assets of 7,182.7 trillion won – was a decrease of 500 billion won from the previous quarter.