Foreign direct investment in S.Korea posts double-digit growth in Q3

Source: Xinhua| 2020-10-13 15:49:06|Editor: huaxia

SEOUL, Oct. 13 (Xinhua) -- Foreign direct investment (FDI) in South Korea posted a double-digit growth in the third quarter due to a surge in Chinese investment, a government report showed Tuesday.

The reported FDI amounted to 5.23 billion U.S. dollars during the July-September quarter, up 43.6 percent from the same quarter of last year, according to the Ministry of Trade, Industry and Energy.

For the first nine months of this year, the reported FDI reached 12.89 billion dollars, down 4.4 percent from a year earlier. During the January-June period, the FDI tumbled 22.4 percent on a yearly basis.

China's direct investment in South Korea almost tripled to 1.25 billion dollars in the third quarter compared with a year ago.

The ministry said China expanded direct investment as the country showed the fastest economic recovery from the fallout of the COVID-19 outbreak.

Direct investment from the United States, the European Union (EU) and Japan dropped between 20 percent and 50 percent. Enditem