SEJONG: South Korea’s overseas direct investment jumped 15 percent in 2015 from a year earlier, snapping a three-year losing streak and topping the US$40 billion mark again, government data showed Friday.
The country’s overseas direct investment came to $40.23 billion in the January-December period, compared with the previous year’s $35 billion, according to the data compiled by the Ministry of Strategy and Finance. It marked the first turnaround from a third consecutive on-year drop since 2012.
The ministry said the increase is partly backed by an upbeat trend in global overseas investment, which is estimated to have soared 36 percent on-year in 2015.
Investments in financial and insurance sectors soared 65.5 percent on-year to $11.37 billion, with investments in manufacturing going up 7.6 percent to $9.24 billion. Investments in the mining sector rose 19.3 percent to $4.94 billion. Money poured into real estate and property rental services, however, dropped 35.3 percent on-year to $4.83 billion.
Asia was South Korea’s biggest investment destination with its money surging 51.3 percent to $16.62 billion, followed by North America with $11 billion and Latin America with $6.51 billion.
“Global direct investment is forecast to decline in 2016 due to rising uncertainties in the world financial markets, a slowdown in emerging markets and escalating geopolitical risks,” said the ministry. “South Korea’s overseas investment is also expected to move downwards or stagnate this year.”
