Thursday July 2, 03:15 AM
Planned S.Korea Q2 FDI increase highest in over a year
SEOUL, June 2 (Reuters) - Foreign direct investment (FDI) plans received by South Korea for the second quarter showed an increase of 62 percent from year-ago levels, the fastest rate in more than a year as investors displayed more confidence about an economic turnaround.
The marked upswing was driven by a couple of sizable deals -- eBay's purchase of South Korean online retailer Gmarket , and Tesco (LSE: TSCO.L - news) 's investment in a logistics facility, the Ministry of Knowledge and Economy said in a statement on Thursday.
'Foreign investors seem to have highly regarded our economy's relatively solid fundamentals and consumer sentiment's rapid recovery,' the ministry said.
Asia's fourth-largest economy received foreign direct investment pledges totalling $2.97 billion during the April-June period, up 62 percent from a year earlier, the biggest jump since a 69.8 percent rise in the first quarter of 2008, the ministry said.
The ministry expected foreign direct investment pledges to top its goal of $12.5 billion this year, given stable foreign exchange rates and improving economic conditions.
For the first half of the year, the nation attracted a total of $4.64 billion worth of foreign direct investment.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
