At the end of last year, foreign exchange reserves reached $415.6 billion...9th place in the world

As of the end of December last year, Korea's foreign exchange reserves were $415.6 billion, up $20 million from a month ago.

The Bank of Korea explained that the end-of-quarter effect increased financial institutions' foreign currency deposits and operating income, despite a drop in dollar conversion of other currency foreign currency assets and measures to ease volatility in the foreign exchange market due to the strong U.S. dollar.

As of the end of November last year, Korea's foreign exchange reserves were ranked 9th in the world.