S. Korea's overseas direct investment falls 22.9 pct in Q2-Xinhua

S. Korea's overseas direct investment falls 22.9 pct in Q2

Source: Xinhua

Editor: huaxia

2023-09-15 13:26:30

SEOUL, Sept. 15 (Xinhua) -- South Korea's overseas direct investment fell for the third successive quarter on lingering uncertainty over the global economy, government data showed Friday.

Overseas investment through the purchase of foreign stocks and the establishment of foreign offices stood at 15.31 billion U.S. dollars in the April-June quarter, down 22.9 percent from the same quarter of last year, according to the Ministry of Economy and Finance.

The double-digit slide was attributable to global economic uncertainty, affected by interest rate hikes in major economies.

Overseas investment in the finance and insurance and manufacturing industries dived in double figures to 5.79 billion dollars and 4 billion dollars, respectively.

Investment in the overseas real estate sector retreated in double digits to 1.25 billion dollars, but investment in the mining industry more than doubled to 1.04 billion dollars.

Direct investment in Asia and Europe diminished in double digits to 3.42 billion dollars and 2.06 billion dollars, respectively, in the second quarter.

Investment in North America shrank 9.1 percent to 7.43 billion dollars, but investment in Africa more than doubled to 100 million dollars.