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S. Korea's overseas direct investment rises 7.2 pct in Q3

All News 10:07 December 08, 2017

SEJONG, Dec. 8 (Yonhap) -- S. Korea's overseas direct investment rose in the third quarter from a year earlier due to an increase in investments in Asian and South American countries, government data showed Friday.

Investments made by South Korean companies in other countries totaled US$9.06 billion in the July-September period, compared with $8.45 billion tallied a year ago, according to the data compiled by the Ministry of Strategy and Finance.

It also marked an 11.8 percent on-quarter slump.

Investment into China rose 14.4 percent on-year to $720 million, while numbers for the United States, the biggest investment destination of South Korean money, reached $2.11 billion in the third quarter. This, however, represents a 27.2 percent drop from a year ago.

By sector, offshore investments in the property sector fell 48.4 percent on-year to reach $1.25 billion, with those allocated to foreign wholesalers and retailers tumbling 27 percent to $560 million.

On the other hand, South Korean investment into the foreign insurance and financial sector almost doubled to $3 billion from $1.55 billion a year earlier, the latest findings showed.

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