APD | South Korea's Q2 overseas direct investment hits record high

By APD writer Alice

South Korea's overseas direct investment reached a record high in the second quarter, thanks to a rise in spending on chip-making facilities in China, the Ministry of Economy and Finance said on September 27.

Investments made by South Korean companies came to US$15 billion in the April-June period, up 13.3 percent from a year earlier, the highest since 1981, when the government began to release data on overseas investments made by South Korean companies.

The record figure was driven by increased investment in the semiconductor sector in China as well as a large-scale merger and acquisition in the US by a South Korean firm, according to the ministry.

The US accounted for the largest share of South Korea's overseas investments, with $3.2 billion in the second quarter, up 14.7 percent on year.

South Korea's direct investment in China -- its largest trading partner -- jumped 123 percent on year to $2 billion in the April-June period.

(ASIA PACIFIC DAILY)