S. Korean investment in overseas securities dips by $2.11 bln in Q1

SEOUL, May 29 (Yonhap) -- South Korean investments in overseas securities fell by
US$2.11 billion in the first quarter from three months earlier as stock and bond
investments were dented amid the global financial turmoil, the central bank said
Friday.

Investments in foreign stocks, bonds and so-called Korean Paper reached an
outstanding $52.02 billion as of the end of March, compared with $54.1 billion
from three months earlier, according to the Bank of Korea (BOK).
Korean Paper refers to foreign-currency-denominated securities issued by the
South Korean government, financial institutions or companies abroad.
"In the fourth quarter, investment in overseas securities plunged in the wake of
the Lehman collapse. In the first quarter, the lingering impacts of the global
financial meltdown affected such investments," an official at the BOK said.
Investments in foreign stocks fell by $1.42 billion on-quarter to an outstanding
$25.2 billion as of end-March. Investments in bonds declined by $2.26 billion to
$14.4 billion as investors sold bond holdings, and debt price falls brought about
valuation losses, it added.
sooyeon@yna.co.kr
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