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FDI Pledges to S. Korea Hit Record High through Q3

According to Yonhap News,

(SEJONG=Yonhap News) New foreign direct investment (FDI) pledged to South Korea in the first three quarters of the year reached an all-time high, in line with rising interest in the nation's high-tech industries and startups in emerging sectors, government data showed Thursday.

South Korea received US$19.20 billion worth of FDI commitments from January to September, which represents a 41.4 percent spike from a year earlier, according to the Ministry of Trade, Industry and Energy.

The actual investment made by foreign companies over the period reached $11.70 billion, jumping 31.9 percent from the previous year, the ministry said.

Investment pledges from the European Union jumped 63.1 percent to $5.13 billion in the first nine months of the year, mostly in the form of stake investments and merger and acquisitions.

American companies sought partnerships and stake acquisitions in high-tech industries and tech startups, pledging $4.09 billion over the period, a 41 percent increase.

New FDI pledged from China rose a whopping 292 percent to $2.39 billion, the largest-ever amount, led by brisk investment in the service industry.

By sector, the manufacturing industry drew in $8.38 billion worth of investment pledges as offshore investors sought joint venture partners in the electronics, machinery equipment and bio sectors.

Service industries attracted $10.64 billion of new investment from abroad in emerging technology fields, such as e-commerce, cloud computing, mobile platforms and fintech, the ministry said.

The ministry said this year's FDI may top $20 billion, reaching a new record high. Last year, foreign direct investment in the country reached $22.9 billion.

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Source Text

Source: Yonhap News (October 4, 2018)

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