South Korea's overseas direct investment declined 21.6 percent on-year in the first quarter amid the fallout of the COVID-19 pandemic, data showed Friday.

The value of investments made by South Korean companies reached $11.2 billion in the January-March period, compared with $14.3 billion the previous year, according to the data by the Ministry of Economy and Finance.

Such investments declined after a 4.7 percent on-year increase in the fourth quarter of last year. The country's overseas direct investment slid for the third straight quarter in the July-September period of 2020.

South Korea's net overseas direct investment fell 31.6 percent on-year to $7.65 billion during the first quarter, the data showed.

By sector, the country's overseas investment in the manufacturing sector declined 14.3 percent on-year to $2.82 billion, and that in the wholesale and retail sector sank 58.4 percent on-year to $460 million. But local firms' investment in the financial and insurance sectors jumped 75.4 percent to $5.37 billion.

By country, South Korea's direct investment in the United States fell 18.8 percent on-year to $4.21 billion, while that in China rose 15.9 percent to $860 million. (Yonhap)