April 26, 2024

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[THE INVESTOR] New foreign direct investment pledged to South Korea increased 1.9 percent on-year to hit a record high in 2016, the government said on Jan. 3.

New FDI pledges came to US$21.3 billion last year, up from the previous record of $20.9 billion set in 2015, according to the Ministry of Trade, Industry and Energy. The ministry said the amount of new FDI in the country had surpassed the $20-billion mark for two years in a row.

Last year’s jump was attributed to a 5.3-percent on-year increase of new FDI in the service industry worth $15.51 billion, officials said. Fresh FDI commitments in the country’s manufacturing sector also jumped 12.4 percent on-year to $5.13 billion last year, the ministry said

(theinvestor@heraldcorp.com)