- Registration date2024-04-02
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The Ministry of Trade, Industry and Energy (MOTIE) announced on April 2 that foreign direct investments (FDIs) pledged to Korea in the first quarter of 2024 (Jan-Mar, acc.) jumped 25.1 percent year-on-year to a record-breaking USD 7.1 billion. FDIs that actually arrived in Korea over the same period reached $1.9 billion.
By industry, the manufacturing sector saw FDI pledges soar 99.2 percent to $3.1 billion, whereas those to service inched down 2.5 percent to $3.9 billion. Among manufacturing, electrical and electronics (up 113.5 percent to $1.5 billion), machinery and precision medical devices (up 49.2 percent to $0.5 billion), and chemical engineering (up 69.5 percent to $0.3 billion) advanced year-on-year. In service industries, finance and insurance (up 34.3 percent to $2.2 billion) enjoyed growth.
By region, FDI coming in from the U.S. and EU decreased owing to the high base effect from last year’s bulk investments, contracting 3.4 percent and 69.8 percent, respectively, to $0.7 billion and $0.6 billion. FDI from Japan and Greater China leaped 281.8 percent and 146.7 percent, respectively, to $1.1 billion and $2.1 billion.
By type, greenfield investments shrank 7.1 percent to $3.9 billion, while M&A investments expanded 115.4 percent to $3.2 billion.