Overseas direct investment by Koreans up 2.3% in 1st half

Hit by weak consumer sentiment and high-flying crude oil prices, Koreans were less eager to invest overseas during the first six months of this year, the Ministry of Finance and Economy said yesterday.

Large companies were also less avid investors compared to individuals and small and mid-sized companies that accounted for over half of the country’s overseas direct investment, the government figures showed.

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Until last month, the country’s weak domestic demand had been a major strain on the economy that was struggling to make a comeback amid soaring oil prices and a strong local currency that posed a threat to exporters.

Korea is about two-thirds held up by outbound shipments.

Korea Herald