The Bank of Korea (BOK)'s net profit last year topped 15 trillion won, the largest on record. Revenue from U.S. dollars it holds and from overseas stock trades increased on the back of a strong dollar. Corporate taxes paid by the BOK came to 5.4 trillion won, more than Samsung Electronics (2.8 trillion won).
According to the "2025 annual report" released on the 27th, last year's net profit was 15.3275 trillion won, about double the previous year's 7.8189 trillion won. It is the largest net profit on record. The Bank of Korea (BOK) said, "With the won weakening against the U.S. dollar and marketable securities prices rising, net profit related to foreign-currency assets increased significantly."
As of the end of February, the Bank of Korea (BOK) holds $427.62 billion in foreign exchange reserves (about 645 trillion won). It manages this asset to generate revenue. When the won-dollar exchange rate rises, the BOK conducts market-stabilizing operations by selling dollars in the foreign exchange market. Last year, it sold dollars when the exchange rate was high, generating gains. Foreign exchange trading gains last year were 6.3194 trillion won, more than five times the previous year's 1.1654 trillion won.
There is also an effect in which the won-denominated returns on overseas stocks and bonds rise when the won-dollar exchange rate increases. Accordingly, gains on trades of marketable securities such as stocks and bonds rose 14% to 9.5051 trillion won. Interest and dividends from marketable securities increased 9% to 12.6449 trillion won.
◇ The Bank of Korea (BOK) cuts U.S. dollar share and increases deposits... 11 trillion won paid to the government
The Bank of Korea (BOK) said it holds 69.5% of its foreign-currency assets in U.S. dollars. The share fell from 71.9% the previous year. The remainder is held in euros, yen, yuan, and other currencies. The BOK said, "As the U.S. dollar weakened amid uncertainty related to tariff policy and concerns over widening fiscal deficits, we reduced the dollar share and increased the share of other currencies."
Most investment products are bonds. Government bonds (47.8%), corporate bonds (10%), asset-backed securities (9.6%), and government agency bonds (8.5%) together account for 75.9%. The rest is held as deposits (14.1%) and stocks (10%). Compared with 2024, the share of deposits increased, while the share invested in bonds and stocks decreased.
The Bank of Korea (BOK) said it paid 5.4375 trillion won in corporate taxes last year. That is more than double the previous year's 2.5782 trillion won. After paying corporate tax, the BOK sets aside 30% as statutory reserves and pays the remainder to the government as revenue. This amount came to 10.705 trillion won, the largest ever. In this way, the money the BOK paid the state exceeds the corporate taxes that Samsung Electronics and SK hynix paid last year (8.4 trillion won).
The government classifies the money the Bank of Korea (BOK) pays as non-tax revenue. A portion of this could be used to fund the 25 trillion won supplementary budget the government is preparing.
Under the U.S. investment special act passed by the National Assembly on the 12th, part of the revenue from the BOK's management of foreign exchange reserves will be used to fund a $200 billion U.S. investment project. A Bank of Korea (BOK) official said, "The 21 trillion won in interest and trading revenue from marketable securities last year could be used as U.S. investment funds," adding, "However, the specific method of use will be finalized after discussions with the government."