South Korea ’ s foreign exchange reserves returned to the $ 250 billion - level in 15 months after climbing for seven consecutive months up until September 2009 . The country ’ s foreign reserves are forecast to set a new record in and around 2009 - end if the current trend continues . The largest reserves to date were $ 264 . 25 billion at the end of March last year . According to the Bank of Korea ( BOK ) on October 6 , South Korea ’ s reserves in September - end topped $ 254 . 25 billion , an $ 8 . 79 billion increase compared with the previous month . The foreign reserves surged by $ 52 . 71 billion during the seven - month period , replacing the previous record of $ 258 . 1 billion in June 2008 in 15 months . This marks the third largest monthly gain following $ 14 . 29 billion in May 2009 and $ 14 . 21 billion in November 2004 . The BOK explains that the recent surge has been driven by investment profits , resumption of matured foreign exchange equalization funds by local banks and a rise in the dollar value of assets in other currencies including euro and yen due to a weaker U . S . dollar . Furthermore , the National Pension Service ( NPS ) repaid a $ 640 million currency swap to the BOK and the International Monetary Fund allocated $ 290 million in special drawing rights ( SDRs ) , an international type of reserve currency , to South Korea which led to burgeoning reserves . Another contributing factor was the foreign exchange authority stepping up to purchase the U . S . dollar to stabilize the value of won against the dollar . Foreign reserves consist of $ 215 . 72 billion in securities ( 84 . 8 percent ) , $ 33 . 69 billion in deposit ( 13 . 3 percent ) , $ 3 . 77 billion in SDR ( 1 . 5 percent ) and $ 80 million in gold bullion ( 0 . 03 percent ) . South Korea has the sixth largest foreign exchange reserves as of August - end 2009 , following China with the biggest reserves at $ 2 . 131 trillion ( June - end ) , Japan at $ 1 . 423 trillion , Russia at $ 409 . 6 billion , Taiwan at $ 325 . 4 billion and India at $ 276 . 4 billion . [ translated by Yen - mi Hong , edited by JYJ ] [ ⓒ Maeil Business Newspaper & mk . co . kr , All rights reserved ]