South Korea's foreign reserves increased for the second consecutive month in December.

According to the Bank of Korea on Wednesday, the nation's foreign currency reserves totaled 423-point-16 billion dollars as of the end of last month, up seven-point-06 billion dollars from a month earlier.

The reserves expanded for the second straight month after a decline of three consecutive months from August to October.

The rise is attributed to an increase in the value of non-dollar assets when converted into the greenback, with the dollar weakening two-point-eight percent against six major currencies in December.

As of the end of November, South Korea was the world's ninth-largest holder of foreign exchange reserves. China topped the list at over three trillion dollars, followed by Japan, Switzerland and Russia.