Korea's overseas investment jumps on increased energy projects

Seoul--(뉴스와이어)--The Ministry of Strategy and Finance said in a report Wednesday (Aug. 6) that Korea's overseas investment jumped 42.8 percent during the first half of this year on increased investment by large conglomerates in energy development projects.

According to the report by the ministry, Korean firms invested a total of $14.72 billion during the January-June period, compared with $10.31 billion in the same period a year earlier.

The sharp growth was attributed to a surge in overseas investment by large companies in Korea, which expanded their dealings with energy development projects and stepped up their global management drive, the report showed. Large firms accounted for 72.9 percent of the country's total overseas investments.

Cambodia saw the largest growth from Korean companies. In the first half, Korea's investment in the country grew 127.8 percent from a year earlier. Investment in the U.S. market came next with an on-year growth rate of 102.7 percent, according to the report.

The U.S. still retained its status as Korea's largest investment destination by taking up 20.5 percent of the total amount, followed by China and Hong Kong with 16.5 percent and 8.2 percent, respectively, according to the report.

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