Korea’s ODI down 3% in Q2
[THE INVESTOR] Korea’s overseas direct investment fell slightly in the second quarter from a year earlier, government data showed on Aug. 11.
Investment made by Korean companies in other countries totaled US$8.47 billion in the April-June period, down 3.2 percent from US$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 US$13.45 billion tallied in the previous quarter.
Investment into China tumbled 44.7 percent on-year to US$470 million, while those to Vietnam slid 22.6 percent to US$450 million during the three-month period.
The US, on the other hand, was the biggest investment destination of Korean money, with US$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 US$1.39 billion and US$1.64 billion, respectively, over the cited period.
By Alex Lee and newswires (firstname.lastname@example.org)