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Korea’s ODI down 3% in Q2

PUBLISHED : August 11, 2017 - 10:51

UPDATED : August 11, 2017 - 10:52

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[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 (alexlee@heraldcorp.com)

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