Illustrative photo (Source: english.yonhapnews.co.kr) Hanoi (VNA) – New foreigndirect investment (FDI) pledged to the Republic of Korea (RoK) in the firstthree quarters of this year declined due to military tension on the KoreanPeninsula and rising protectionist practices by major trading partners, Yonhapnews agency reported, citing the RoK Government’s announcement on October 12.
The news agency quotedstatistics of the country's Ministry of Trade, Industry and Energy that showed FDIcommitments from January to September totalled 13.59 billion USD, down 9.7 percentfrom a year earlier.
The amount of actual investmentsmade by foreign investors and companies, however, rose 9.1 percent on-year to 8billion USD over the reviewed period.
According to the ministry, newFDI pledges from the RoK's two largest trading partners -- the United Statesand China -- have dropped, with new investment pledge from the US decreasing5.5 percent on-year to 2.9 billion USD in the nine-month period, and that fromChina dropped 19.5 percent to 3.64 billion USD.
In contrast, FDI pledges fromEuropean Union countries jumped 22 percent over the cited period.
By industry, new FDI pledges inthe country's manufacturing sector declined 3.5 percent on-year to 4.16 billionUSD, and those in the service sector went down 8.8 percent to 9.38 billion USD.
The ministry was quoted byYonhap as saying that foreign investment is unlikely to make a turnaround inthe fourth quarter because the US and European Union are rolling backquantitative easing and prospects for the Brexit talks remain uncertain.-VNA
The news agency quotedstatistics of the country's Ministry of Trade, Industry and Energy that showed FDIcommitments from January to September totalled 13.59 billion USD, down 9.7 percentfrom a year earlier.
The amount of actual investmentsmade by foreign investors and companies, however, rose 9.1 percent on-year to 8billion USD over the reviewed period.
According to the ministry, newFDI pledges from the RoK's two largest trading partners -- the United Statesand China -- have dropped, with new investment pledge from the US decreasing5.5 percent on-year to 2.9 billion USD in the nine-month period, and that fromChina dropped 19.5 percent to 3.64 billion USD.
In contrast, FDI pledges fromEuropean Union countries jumped 22 percent over the cited period.
By industry, new FDI pledges inthe country's manufacturing sector declined 3.5 percent on-year to 4.16 billionUSD, and those in the service sector went down 8.8 percent to 9.38 billion USD.
The ministry was quoted byYonhap as saying that foreign investment is unlikely to make a turnaround inthe fourth quarter because the US and European Union are rolling backquantitative easing and prospects for the Brexit talks remain uncertain.-VNA
VNA
