Foreign reserves stood at $442.28 billion at the end of August, up from $427.95 billion a month earlier, the central bank said Thursday.
The increase was the largest since the BOK began compiling the data in 1971, surpassing the previous monthly record of $14.29 billion set in May 2009. Reserves rose for a third consecutive month and reached their highest level since May 2022.
The BOK attributed the increase to a sharp rise in foreign-currency deposits by financial institutions, investment income and an increase in the dollar-converted value of assets denominated in other currencies.
A BOK official said banks appeared to have placed more surplus foreign currency at the central bank after it began paying interest on excess foreign-currency reserves earlier this year.
The jump also came after South Korean foreign-exchange authorities reportedly bought about $20 billion in dollars repatriated by SK hynix following its $26.5 billion American depositary receipt offering in the U.S. in July.
The purchases were made through the Foreign Exchange Stabilization Fund, jointly managed by the finance ministry and the BOK, as authorities sought to limit currency-market volatility and rebuild foreign-exchange buffers, according to Reuters account.
The BOK and finance ministry declined to comment on the transaction.
South Korea also posted a record $34.75 billion trade surplus in August as exports surged 68.7 percent from a year earlier to $98.25 billion, led by another record-setting semiconductor shipments.
By asset type, securities holdings, the largest component of the reserves, increased $7.07 billion from July to $387.07 billion. Deposits rose $7.17 billion to $30.30 billion.
Special drawing rights, or SDRs, increased by $60 million to $15.77 billion, while South Korea's reserve position at the International Monetary Fund rose by $30 million.
Gold reserves remained unchanged at $4.79 billion because the BOK values its gold holdings at acquisition cost rather than current market prices.
The central bank made no additional gold purchases in August after recently announcing plans to resume purchases by acquiring domestically produced physical gold for export.
Despite three consecutive monthly gains, reserves remain below their record $469.21 billion reached in October 2021.
The FX data this month accompanied a notable change in the BOK's monthly report.
For the first time in 25 years, the central bank removed a table comparing South Korea's reserves with those of other major economies and showing the country's global ranking.
The BOK had provided the international comparison since February 2001, when foreign reserves were closely watched as a measure of South Korea's recovery from the 1997-98 Asian financial crisis.
Thursday's release omitted the table without prior notice or an explanation in the report.
Asked about the change, a BOK official said international rankings can fluctuate for reasons unrelated to a country's underlying external soundness, making them less meaningful as an indicator.
South Korea's ranking has swung sharply this year.
The country ranked ninth globally at the end of 2025 before slipping to 10th in January and 12th in February. It fell as low as 13th in May before rebounding three places to 10th in June.
The BOK has long published foreign reserve data as an indicator of the country's capacity to meet external payment needs and respond to volatility in the foreign-exchange market.
• South Korea's foreign exchange reserves rose by a record $14.33 billion in August to $442.28 billion, the largest monthly increase since records began in 1971.
• Foreign-currency deposits increased by $7.17 billion, while securities holdings rose $7.07 billion.
• The BOK removed South Korea's global reserve ranking from its monthly release for the first time in more than 25 years, saying the ranking was not a meaningful gauge of external soundness.
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