Invest KOREA

According to Yonhap News,

Foreign-invested firms hired 501,000 people in 2011, accounting for 6.2 percent of the total jobs in Korea, according to the Ministry of Knowledge Economy (MKE) last month. The figure marks a slight increase from 2010, when foreign-invested companies employed 484,000 people, accounting for 6.0 percent of all jobs in Korea.

Sales and exports increased in 2011 as well, marking 20.8 percent and 9.1 percent year-on-year growth to KRW 4.82 trillion and USD 100.7 billion, respectively. Sales and exports accounted for 14.7 percent and 18.1 percent of the country’s gross domestic economy, respectively. Compared to 2010, sales grew 1.1 percentage points while exports dropped 1.7 percentage points.

The statistics above come from a survey by the Korea Data Network at the end of 2011 on 1,000 foreign-invested companies, which held foreign-invested shares of 10-percent-or-more and invested more than USD 500,000.

Source: Yonhap News (Feb. 26, 2013)

** This article was translated from the Korean.