S. Korea’s overseas direct investment posts double-digit fall in Q1

SEOUL, June 25– South Korea’s overseas direct investment posted a double-digit fall in the first quarter amid the lingering worry about the COVID-19 pandemic, government data showed Friday. Overseas direct investment amounted to 11.22 billion U.S. dollars in the January-March quarter, down 21.6 percent from a year earlier, according to the Ministry of…

SEOUL, June 25 (Xinhua) — South Korea’s overseas direct investment posted a double-digit fall in the first quarter amid the lingering worry about the COVID-19 pandemic, government data showed Friday.

Overseas direct investment amounted to 11.22 billion U.S. dollars in the January-March quarter, down 21.6 percent from a year earlier, according to the Ministry of Economy and Finance.

The double-digit slide came as concerns remained about the economic downturn from the pandemic.

Overseas investment in the wholesale and retail industry plunged 58.4 percent as global consumers refrained from consumption in offline stores.

Investment in the real estate and the manufacturing sectors declined in double figures, but investment in the finance and insurance segment surged 75.4 percent due to equity investment.

Direct investment in the United States, Vietnam and Canada recorded a double-digit reduction, but those in Turkey and Hungary spiked on the back of the increased investment in the manufacturing sector. Enditem