SEOUL (XINHUA) – Foreign direct investment (FDI) in South Korea hit a record high last year due to rapid growth of investment in the services industry, a government report showed yesterday.
The reported FDI jumped 42.3 per cent over the year to USD29.51 billion in 2021, according to the Ministry of Trade, Industry and Energy. It was the highest since relevant data began to be compiled in 1962, marking the first rebound in three years.
The reported FDI in the services sector advanced 64.2 to USD23.57 billion last year, but the investment in the local manufacturing industry declined 16.2 per cent to USD5 billion.
The direct investment from China, the European Union (EU) and Japan increased to USD7.54 billion, USD12.8 billion and USD1.21 billion each, but investment from the United States fell to USD5.26 billion.
The greenfield investment, which includes the construction of factories and employment, soared 83.2 per cent over the year to USD11.42 billion last year, while the merger and acquisition (M&A) investment gained 24.7 per cent to USD18.09 billion.