The Republic of Korea's overseas direct investment plunged in the first quarter from a year earlier due to a base effect, according to the data compiled by the RoK’s Ministry of Strategy and Finance (Photo: Yonhap)
 
Hanoi (VNA) – The Republic of Korea's overseas direct investment plunged in the first quarter from a year earlier due to a base effect, according to the data compiled by the RoK’s Ministry of Strategy and Finance.

Investments made by RoK companies in other countries totalled 9.61 billion USD in the January-March period, compared with 13.4 billion USD a year ago, the RoK’s Yonhap news agency cited the source. This is also a 5.2 percent on-quarter slump.

During the first quarter of last year, massive overseas takeovers by RoK firms led a sharp increase in direct investment.

The data also showed that investment into the US, the biggest investment destination for the RoK’s money, declined 75.6 percent on-year to 1.85 billion USD in the first quarter, while the figure for Vietnam more than doubled to 1.08 billion USD over the reviewed period.

By sector, offshore investments in the financial and insurance sector rose 20.9 percent on-year to reach 3.21 billion USD, while those allocated to the overseas property sector spiked 48.2 percent to 1.1 billion USD.-VNA