Korea's overseas direct investment rises 9.3 percent in third quarter

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Korea's overseas direct investment rises 9.3 percent in third quarter

The Ministry of Economy and Finance building in Sejong is seen in this file photo. [YONHAP]

The Ministry of Economy and Finance building in Sejong is seen in this file photo. [YONHAP]

 
Korea's overseas direct investment increased 9.3 percent in the third quarter from a year earlier, driven by a rebound in the insurance and manufacturing sectors, the finance ministry said Tuesday.
 
According to data compiled by the Ministry of Economy and Finance, overseas direct investment by Korean companies totaled $16.06 billion during the July-September period, compared with $14.69 billion from the same period last year.
 

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The figure also marked a 4.4 percent increase from the previous quarter, reversing a downward trend that began in the first quarter of the year.
 
The ministry said the overall increase was led by the financial insurance and manufacturing sectors, which turned to growth after posting declines in the first and second quarters.
 
By sector, overseas investment in the financial insurance industry jumped 26.5 percent on-year to $7.97 billion in the third quarter, while investment in manufacturing rose 5.5 percent to $4.21 billion.
 
In contrast, investment in the information and communications sector fell 10.8 percent on-year to $760 million.
 
By region, North America received the largest share of Korea's overseas investment at $6.48 billion, followed by Asia with $4.35 billion and Europe with $2.51 billion.
 
Investment increased in most regions from a year earlier, except for Europe, the ministry said.
 
The ministry also attributed the third-quarter increase to a combination of factors, including expectations of interest rate cuts and eased uncertainty in the investment environment following tariff negotiations between the United States and major economies.
 
The government said it will strengthen communication and cooperation with major investment destination countries to help Korean companies maintain stable business operations overseas amid concerns over a global economic slowdown and ongoing changes in supply chains and the international trade order.

Yonhap
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