Tue, 07 Dec 2021

SEOUL, Sept. 17 (Xinhua) -- South Korea's overseas direct investment logged a double-digit growth in the second quarter due mainly to a low base effect, the finance ministry said Friday.

Overseas direct investment by local residents amounted to 16.5 billion U.S. dollars in the April-June quarter, up 26.8 percent from a year earlier, according to the Ministry of Economy and Finance.

The double-digit increase came as the overseas direct investment tumbled in the second quarter of last year owing to the impact of the COVID-19 pandemic.

Overseas direct investment in the manufacturing industry surged 59 percent in the second quarter from a year ago, and those in the science and technology and the wholesale and retail sectors spiked in triple figures.

Investment in the overseas finance and insurance sector rose 0.5 percent over the year to 5.7 billion dollars in the second quarter, but overseas investment in the real estate segment declined 14.3 percent to 1.3 billion dollars.

Direct investment in China, the United States, Canada and Luxembourg soared in triple digits in the second quarter, but investment in the Cayman Islands recorded a double-digit reduction.

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