S. Korea's overseas direct investment hits all-time high in Q2

Published : Sept 27, 2019 - 10:42 Updated : Sept 27, 2019 - 10:42

S. Korea's overseas direct investment reached a record high in the second quarter, thanks to a rise in spending on chip-making facilities in China, government data showed Friday.

Investments made by South Korean companies came to $15 billion in the April-June period, up 13.3 percent from a year earlier, according to the data compiled by the Ministry of Economy and Finance.

The quarterly figure is the highest since 1981, when the government began to release data on overseas investments made by South Korean companies.

(Yonhap)

The record figure was driven by increased investment in the semiconductor sector in China as well as a large-scale merger and acquisition in the US by a South Korean firm, according to the ministry.

The US accounted for the largest share of South Korea's overseas investments, with $3.2 billion in the second quarter, up 14.7 percent on year.

South Korea's direct investment in China -- South Korea's largest trading partner -- jumped 123 percent on year to $2 billion in the April-June period, according to the data. (Yonhap)