SEOUL, March 15 (Xinhua) -- South Korea's overseas direct investment fell in double digits last year due to 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 63.38 billion U.S. dollars in 2023, down 22.2 percent compared to the previous year, according to the Ministry of Economy and Finance.
The double-digit reduction was attributable to external uncertainties such as high-interest rates in the United States and geopolitical risks in Europe.
Overseas investment in the finance and insurance, manufacturing and real estate industries dived into double figures to 25.66 billion dollars, 20.25 billion dollars and 4.24 billion dollars respectively.
Investment in the mining sector jumped 40.1 percent to 3.38 billion dollars last year, but investment in the wholesale and retail segment declined 2.5 percent to 2.55 billion dollars.
Direct investment in North America shrank 1.8 percent over the year to 31.32 billion dollars in 2023.
Investment in Europe, Asia and Latin America retreated in double digits to 10.66 billion dollars, 10.66 billion dollars and 9.41 billion dollars each. ■
