APD | FDI firms in South Korea soar

By APD writer Alice

The number of foreign direct investment (FDI) companies registered in South Korea rose from 14,481 on July 1 to 14,632 as of Sept. 10, a rise of 162, despite concerns over an economic slowdown prompted by escalating trade tension with Japan.

According to the data provided by Seoul-based corporate tracker Chaebul.com, since Japan applied stricter rules on exports of high-tech materials to South Korea in early July, six Japanese companies have withdrawn from the nation and 14 firms have registered here.

China and Hong Kong added 60 and 17 companies, respectively, in South Korea over the last two months, while 17 more American companies registered here, it said.

New foreign direct investment pledged to South Korea rose to the highest level ever last year, led by the rising interest in the nation's high-tech industries and startups in emerging sectors, government data showed.

South Korea received $26.9 billion worth of FDI commitments in 2018, up 17.2 percent from a year earlier, according to the South Korean Ministry of Trade, Industry and Energy. It was the fourth consecutive year to surpass the $20 billion mark.

(ASIA PACIFIC DAILY)