The net balance of South Korea's public sector, which includes the government and public firms, posted a record surplus of 53-point-seven trillion won last year.

According to tentative Bank of Korea(BOK) data on Friday, the nation's public sector recorded 815 trillion won in total revenue in 2017, up by more than 44 trillion from the previous year.

Meanwhile, total expenditure rose 38 trillion won to 761-point-three trillion last year.

The resulting net balance is a surplus of 53-point-seven trillion won, the largest since the central bank began compiling statistics on the public sector account in 2007.

It's also the fourth consecutive year for the public sector balance to continue in the black.

The BOK attributed the record balance to increased tax revenues from improved corporate results and higher volume in home transactions.
Social security funds that ran large surpluses were also cited as another reason.