The total amount invested by South Korean funds in overseas assets rose 7.4 percent in the first half of 2013 from six months earlier as investors’ appetite for safer assets grew, data showed Friday.

Local funds’ investment in offshore assets reached 39.7 trillion won ($35.3 billion) as of end-June, compared to 37 trillion won tallied at end-December 2012, the data by the Korea Financial Investment Association showed.

The association said the increase came as investors sought after safer assets such as advanced countries’ bonds amid the slowing global economy.

The amount that funds invested in overseas debts came to 7.5 trillion won at end-June, up 31.7 percent from six months earlier. The number accounted for 19.1 percent of the total investment.

In contrast, overseas funds reduced their investment on offshore stocks by 10.2 percent to reach 20.1 trillion won over the cited period, discouraged by a protracted slump in the global stock markets. (Yonhap News)