Overseas direct investment in the first half of this year amounted to US$36.2 billion, up 46.5 percent from the first half of last year. (Yonhap)
SEOUL, Dec. 20 (Korea Bizwire) — While the value of overseas investment increased last year, more foreigners are coming into the country.
According to a report from the Hana Institute of Finance, a research unit of Hana Financial Group, overseas direct investment in the first half of this year amounted to US$36.2 billion, up 46.5 percent from the first half of last year.
Meanwhile, the amount invested rose 30.5 percent to US$29.9 billion.
As of the first half of this year, the most actively reported investment destinations were the United States, the Cayman Islands, China and Vietnam.
In particular, the Cayman Islands, a tax haven country, saw a 165.3 percent increase in reported investment from the first half of last year.
Analysts attributed the increase to a growing interest among Korean investors’ in tax benefits.
Meanwhile, the number of foreigners living in South Korea increased 10.4 percent year-on-year to 2.05 million as of last year.
Thanks to the increase of foreigners entering South Korea, the international population movement reversal continues.
As of last year, 3.2 percent of the country’s total population stayed abroad, while foreigners residing in the country accounted for 4 percent of the total population.
As a result, the international balance of payments deficit in wages and salary surged from 400 million dollars to 1.48 billion dollars during the same period.
The figure was attributed to a sharp increase in foreign workers and pay increases, the institute said.
M. H. Lee (mhlee@koreabizwire.com)
