Korea's overseas direct purchases surge in H1

Korea's overseas direct investment fell slightly in the second quarter from a year earlier due to a drop in investments to China and Vietnam, government data showed Friday.

Investment made by South Korean companies in other countries totaled $8.47 billion in the April-June period, down 3.2 percent from $8.74 billion tallied a year ago, according to the data compiled by the Ministry of Strategy and Finance.

It also marked a 37-percent on-quarter slump from a record $13.45 billion tallied in the previous quarter.

(123RF)

Investment into China tumbled 44.7 percent on-year to $470 million, while those to Vietnam slid 22.6 percent to $450 million during the three-month period.

The United States, on the other hand, was the biggest investment destination of South Korean money, with $2.72 billion in the second quarter, up 21.6 percent from a year ago.

By sector, offshore investments in foreign manufacturing and the financial sector fell 22.8 percent and 35.7 percent to $1.39 billion and $1.64 billion, respectively, over the cited period.

But South Korean investment into foreign wholesalers and retailers shot up more than three-fold to $2.85 billion in the three-month period from $800 million, while $1 billion was injected into sectors like publishing, broadcasting and information services, up 31.2 percent from a year earlier. (Yonhap)