Korea's overseas investment grew from a year earlier in 2015 as investors increasingly headed to advanced markets, including the United States, in search of safer assets, central bank data showed Thursday.
As of end-2015, the country's outstanding overseas investment came to $767 billion, up 6.8 percent, or $48.6 billion, from $718.4 billion a year earlier, according to preliminary data from the Bank of Korea (BOK).
Bank of Korea (Yonhap)
Of the total, $278.4 billion remained in foreign direct investment as of the end of 2015, with $235.9 billion invested in overseas securities. The central bank data did not provide changes in the amounts from the previous year. The rest included overseas deposits and loans.
By country, the United States was the single largest destination for Korean investment with $200.4 billion, accounting for 26.1 percent of the country's total overseas investment, invested as of end-2015.
The 2015 tally marked a whopping 15.2 percent spike from $173.9 billion a year earlier, according to the BOK data.
Korean investment in China, on the other hand, plunged 8.2 percent on-year to $119.3 billion, apparently reflecting the recent economic slowdown in the world's second-largest economy.
Foreign investment in Korea dwindled last year, possibly reflecting a slowdown.
Outstanding foreign investment in the country amounted to $934 billion as of the end of 2015, down $54.7 billion from a year earlier, the BOK data showed.
The Korean economy, the fourth-largest in Asia, grew 2.6 percent on-year in 2015, significantly slowing from a 3.3-percent expansion in the previous year. (Yonhap)