Korea’s ODI rises 7% in Q3
[THE INVESTOR] Korea’s overseas direct investment rose in the third quarter from a year earlier, government data showed on Dec. 8.
Investments made by Korean companies in other countries totaled US$9.06 billion in the July-September period, compared with US$8.45 billion tallied a year ago, according to the data compiled by the Ministry of Strategy and Finance.
It also marked an 11.8 percent on-quarter slump.
Investment into China rose 14.4 percent on-year to US$720 million, while numbers for the United States, the biggest investment destination of Korean money, reached US$2.11 billion in the third quarter. This, however, represents a 27.2 percent drop from a year ago.
By sector, offshore investments in the property sector fell 48.4 percent on-year to reach US$1.25 billion, with those allocated to foreign wholesalers and retailers tumbling 27 percent to US$560 million.
On the other hand, Korean investment into the foreign insurance and financial sector almost doubled to US$3 billion from US$1.55 billion a year earlier, the latest figures showed.
By Alex Lee and newswires (email@example.com)