S. Korea's overseas direct investment keeps falling for 2nd quarter

Xinhua News,SEOUL
2020-09-18 12:32

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SEOUL, Sept. 18 (Xinhua) -- South Korea's overseas direct investment kept falling for two straight quarters through the second quarter due to an economic fallout from the COVID-19 outbreak, a government report showed Friday.

Overseas direct investment amounted to 12.14 billion U.S. dollars in the April-June quarter, down 27.8 percent from a year earlier, according to the Ministry of Economy and Finance.

It marked the fastest quarterly reduction since the first quarter of 2018, continuing to slide for the second straight quarter.

The monthly falling pace slowed on a partial recovery from the COVID-19 pandemic. The overseas direct investment slumped 38.3 percent in April, 60.0 percent in May and 0.7 percent in June respectively on a yearly basis.

Direct investment in the overseas manufacturing industry tumbled 62.7 percent over the year to 2.15 billion dollars in the second quarter.

Investment in the overseas finance and insurance sector plummeted 21.3 percent to 5.05 billion dollars. Investment in the real estate and the mining sectors amounted to 1.6 billion dollars and 990 million dollars each.

Direct investment in Asia accounted for 30.1 percent of the total, followed by investment in the Latin America with 23.9 percent, North America 20.6 percent and Europe 16.0 percent respectively.
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