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S. Korea's overseas direct investment drops in Q1 over pandemic

All News 10:00 June 19, 2020

SEJONG, June 19 (Yonhap) -- South Korea's overseas direct investment dropped 15.3 percent on year in the first quarter of this year, as the coronavirus pandemic weighed on investment flows around the world, data showed Friday.

The value of investments made by South Korean companies came to US$12.62 billion in the first quarter, compared with $14.91 for the same quarter last year, according to the data compiled by the Ministry of Economy and Finance.

South Korean companies invested $3.58 billion in the United States in the first quarter, down 7.1 percent on year.

The U.S. accounted for the largest share of South Korea's overseas investments at 28.4 percent.

South Korea's direct investment in China, where the pandemic originated, plunged 56.7 percent on-year to $730 million in the first quarter, according to the data.

By sector, investments made by South Korean financial and insurance companies slipped 31.3 percent on-year to $3.6 billion in the first quarter.

Manufacturing firms' combined investments plunged 55.4 percent on year to $2.6 billion in the quarter, according to the ministry.

S. Korea's overseas direct investment drops in Q1 over pandemic - 1

kdh@yna.co.kr
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