Korea's FDI reached period's record-high in H1
South Korea's trade ministry released its initial figures for the amount of foreign direct investment pledged to Korea during the first half of this year.
Our Kim Ji-yeon breaks down the numbers for us.
Korea's foreign direct investment during the January-to-June period this year amounted to nearly 16 billion U.S. dollars... a record-high for a year's first half.
The estimate, based on reported figures, is an increase of more than 64-percent compared to the same period last year.
The lion's share of the FDI came from traditionally primary investing countries including the European Union, the United States, China and Japan.
Also compared to previous years, there were rising investments from Middle Eastern countries.
The Ministry of Trade, Industry and Energy attributes the record-high figures to Korea's strong economic fundamentals and a surge in joint investments through its 'global value chain,' where different stages of goods production take place in different countries.
Strong fundamentals that have led Korea to become a favorable investment environment include strong exports, which surpassed 50-billion dollars for the fourth consecutive month leading up to May.
Also cited are an increase in the consumption of Korea's durable goods and a market boom in the country's semiconductor and petrochemical sectors.
The ministry adds that the record-high FDI is particularly special in that it was achieved amid dwindling numbers of global mergers and acquisitions, intensifying trade tensions between the U.S. and China and a widening interest rate gap between Korea and the U.S.
With this, the ministry expects Korea to gradually reach the government's aim of reaching 20-billion dollars of FDI annually over the next four years.
Kim Ji-yeon, Arirang News.
Our Kim Ji-yeon breaks down the numbers for us.
Korea's foreign direct investment during the January-to-June period this year amounted to nearly 16 billion U.S. dollars... a record-high for a year's first half.
The estimate, based on reported figures, is an increase of more than 64-percent compared to the same period last year.
The lion's share of the FDI came from traditionally primary investing countries including the European Union, the United States, China and Japan.
Also compared to previous years, there were rising investments from Middle Eastern countries.
The Ministry of Trade, Industry and Energy attributes the record-high figures to Korea's strong economic fundamentals and a surge in joint investments through its 'global value chain,' where different stages of goods production take place in different countries.
Strong fundamentals that have led Korea to become a favorable investment environment include strong exports, which surpassed 50-billion dollars for the fourth consecutive month leading up to May.
Also cited are an increase in the consumption of Korea's durable goods and a market boom in the country's semiconductor and petrochemical sectors.
The ministry adds that the record-high FDI is particularly special in that it was achieved amid dwindling numbers of global mergers and acquisitions, intensifying trade tensions between the U.S. and China and a widening interest rate gap between Korea and the U.S.
With this, the ministry expects Korea to gradually reach the government's aim of reaching 20-billion dollars of FDI annually over the next four years.
Kim Ji-yeon, Arirang News.