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S. Korea’s National Wealth Tallied at Over 12 Quadrillion Won

Written: 2016-06-14 13:16:13Updated: 2016-06-15 11:16:31

South Korea’s national wealth has been tallied at some 12 quadrillion won, or roughly ten trillion U.S. dollars, as of the end of last year.
 
According to the 2015 national balance sheet released by the Bank of Korea and Statistics Korea, the nation’s net assets stood at 12-point-359 quadrillion won, which is seven-point-nine times greater than the country's gross domestic product(GDP). The 2015 figure represents a five-point-seven percent increase from the previous year.
 
The central bank said that of the total net assets, nonfinancial assets made up 12-point-126 quadrillion won due to higher real estate prices, while net financial assets increased to 233 trillion won thanks to a current account surplus.
     
Of nonfinancial assets, real estate and construction assets took up 88-point-six percent of the national wealth, showing that assets are heavily concentrated on properties. Real estate assets were estimated at six-point-574 quadrillion, which is four-point-two times more than the GDP. Construction assets stood at four-point-166 quadrillion, two-point-seven times the GDP. 

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