The Bank of Korea's net income for the first quarter of this year was 4.2072 trillion won, the largest ever for a first quarter. It was three times larger than the same period a year earlier (1.3874 trillion won) and twice the previous first-quarter record set in March 2020 (2.2165 trillion won).
According to the Bank of Korea on the 28th, net income as of the end of February was 3.2498 trillion won, more than five times the same period a year earlier (606.8 billion won). It means net income increased by about 1 trillion won in March alone.
The increase in the Bank of Korea's net income is assessed to be due to the rise in the exchange rate. The Bank of Korea's balance consists of interest and gains and losses on trading from asset management such as foreign-currency securities. It is a structure that is heavily affected each year by interest rates, stock prices, and exchange rates.
The Bank of Korea sets aside 30% of net income each year as legal reserves and some as discretionary reserves. The remainder is paid to the government as revenue. Of last year's net income, the Bank of Korea booked 10.705 trillion won as government revenue.