In the photo, taken March 31, 2020, a Bank of Korea (BOK) official is seen inspecting U.S. banknotes. (Yonhap)
SEOUL, Sept. 17 (Korea Bizwire) — South Korea’s overseas direct investment grew at the fastest pace in nine quarters in the second quarter of this year amid the global economic recovery, data showed Friday.
The value of investments made by South Korean companies reached US$16.5 billion in the April-June period, up 26.8 percent from a year earlier, according to the data by the Ministry of Economy and Finance.
It marked the fastest on-year growth since a 51.9 percent on-year increase in the first quarter of 2019.
The second-quarter tally rebounded after such investment declined 23.3 percent on-year in the first quarter.
The country’s overseas direct investment slid for the third straight quarter in the July-September period of last year due to the fallout of the COVID-19 pandemic.
South Korea’s net overseas direct investment increased 57.3 percent on-year to $12.8 billion in the second quarter, the data showed.
By sector, the country’s overseas investment in the manufacturing sector rose 59 percent on-year to $3.46 billion, and that in the science and technology segment soared 622.4 percent to $1.66 billion.
But local firms’ investment in the real estate sector declined 14.3 percent to $1.29 billion.
By country, South Korea’s direct investment in the United States soared 173 percent on-year to $6.04 billion, while that in China jumped 202.9 percent to $1.59 billion.
(Yonhap)
