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S. Korea's FDI logs double-digit fall in H1 of 2024

0 Comment(s)Print E-mail Xinhua, July 5, 2024
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SEOUL, July 5 (Xinhua) -- Foreign direct investment (FDI) in South Korea logged a double-digit fall in the first half (H1) of this year after hitting a record high a year earlier, government data showed Friday.

The reported FDI stood at 15.34 billion U.S. dollars in the January-June period, down 10.3 percent compared to the record high of 17.09 billion dollars recorded in the first half of last year, according to the Ministry of Trade, Industry and Energy.

The FDI in the domestic manufacturing industry advanced 6.5 percent to 8.13 billion dollars in the six-month period.

Foreign investment in the electric and electronic sector jumped 25.7 percent to 3.64 billion dollars, while investment in the machinery equipment and medical precision instrument segment more than doubled to 1.11 billion dollars.

The FDI in the local service industry tumbled 24.3 percent to 6.41 billion dollars for the first six months of this year from a year earlier.

Investment in the finance and insurance sector shrank 22.4 percent to 3.06 billion dollars, with those in the wholesale and retail and the real estate segments dropping in double digits.

Direct investment from the United States and the European Union dived in double figures to 2.61 billion dollars and 1.96 billion dollars each, but investment from Japan almost quintupled to 2.89 billion dollars.

Greenfield investment, which involves factory construction and employment, shed 9.1 percent to 11.49 billion dollars in the first half, while the merger and acquisition investment retreated 13.7 percent to 3.84 billion dollars. Enditem

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