] Korea’s overseas direct investment hit a record high in the first quarter of this year, government data showed on May 18.
The overall overseas direct investment totaled US$10.71 billion in the January-March period, up 30.2 percent from US$8.23 billion tallied a year ago, according to the data compiled by the Ministry of Strategy and Finance.
The quarterly amount outnumbered the earlier all-time high of US$9.83 billion tallied in the fourth quarter of last year.
Korean investment into foreign wholesalers and retailers shot up more than 10-fold to US$5.45 billion in the three-month period from US$460 million, while US$910 million was injected into sectors like publishing, broadcasting and information services, up 472.8 percent from a year earlier.
However, offshore investments in foreign manufacturing and financial sectors fell 31.6 percent and 45.5 percent to US$1.36 billion and US$940 million, respectively, over the cited period.
By Alex Lee and newswires (firstname.lastname@example.org