Korea attracts record FDI of $7.05 bn in Q1

2024.04.03 09:55:01 | 2024.04.03 09:57:19

[Graphics by Song Ji-yoon]이미지 확대

[Graphics by Song Ji-yoon]

South Korea attracted a record high foreign direct investment (FDI) of $7.05 billion in the first quarter of 2024, driven by investments in semiconductor and other high-tech industries.

The Ministry of Trade, Industry and Energy announced on Tuesday that the country’s FDI totaled $7.05 billion in the first quarter ended March, up 25.1 percent from the same period a year ago.

By sector, FDI in manufacturing saw a sharp increase of 99.2 percent to $3.08 billion. The service industry, however, saw a decline of 2.5 percent to $3.85 billion.

In manufacturing, investments in the electrical and electronic industry, which includes semiconductors, jumped 113.5 percent to $1.45 billion.

FDI in the machinery and precision medical equipment sector and chemical industry increased 49.2 percent and 69.5 percent, respectively, to $540 million and $340 million.

By country, investment from the United States fell 3.4 percent to $720 million and that from the European Union (EU) fell 69.8 percent to $570 million, data showed.

By Hong Hae-jin and Yoon Yeon-hae

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]