Korea’s Net External Financial Assets Hit 12-Year Low as KOSPI Surges

South Korea's net external financial assets fell to a 12-year low as a sharp KOSPI rally drove up the value of foreign investors' holdings of Korean equities. Net external financial assets, which represent the value of assets held overseas by South Korean residents minus foreign investments in Korea, fell to their lowest level in 12 years. The decline came as a sharp rally in Korean stocks drove…