April 20, 2024
Finance
Korea’s overseas direct investment shrinks 10.5% in Q3
[THE INVESTOR] South Korea’s overseas direct investment dropped for the first time in two years in the third quarter of the year, government data showed on Nov. 11.
The country‘s overseas direct investment came to US$8.89 billion in the July-September period, compared with $9.94 billion tallied in the same period last year, according to the data compiled by the Ministry of Strategy and Finance.
It is the first time that the quarterly figure posted negative growth since the third quarter of 2014, when it slumped 23.4 percent on-year.
For the first nine months of the year, on the other hand, the number rose 11.2 percent on-year to $30.96 billion.
Investments by financial institutions, including insurers, slumped 33 percent on-year to $1.81 billion over the three-month period, offsetting a 20.1 percent gain of $2.14 billion by real estate businesses.
Manufacturers invested $2.08 billion in overseas assets, up 1.4 percent on-year, while money funneled from the wholesale and retail sector soared 74.4 percent to $830 million.
Asia was South Korea’s biggest investment destination with a total of $3.01 billion, followed by North America with $2.67 billion and Europe with $1.49 billion.
(theinvestor@heraldcorp.com)
The country‘s overseas direct investment came to US$8.89 billion in the July-September period, compared with $9.94 billion tallied in the same period last year, according to the data compiled by the Ministry of Strategy and Finance.
It is the first time that the quarterly figure posted negative growth since the third quarter of 2014, when it slumped 23.4 percent on-year.
For the first nine months of the year, on the other hand, the number rose 11.2 percent on-year to $30.96 billion.
Investments by financial institutions, including insurers, slumped 33 percent on-year to $1.81 billion over the three-month period, offsetting a 20.1 percent gain of $2.14 billion by real estate businesses.
Manufacturers invested $2.08 billion in overseas assets, up 1.4 percent on-year, while money funneled from the wholesale and retail sector soared 74.4 percent to $830 million.
Asia was South Korea’s biggest investment destination with a total of $3.01 billion, followed by North America with $2.67 billion and Europe with $1.49 billion.
(theinvestor@heraldcorp.com)
