Foreign direct investment in South Korea rose to a new high in the first half of the year as the amount from Japan nearly tripled despite a large drop in investment from European Union countries, the government said Wednesday.

The amount of new FDI pledged or reported in the January-June period came to $7.11 billion, up 32.5 percent from $5.37 billion for the same period last year, according to the Ministry of Knowledge Economy.

The amount is the highest ever for the first half in the country’s history, it said.

The estimated amount of foreign investment actually arriving here in the first six months of the year also jumped 53.7 percent on-year to $4.45 billion.

“The first-half surge is more than anyone could have hoped for, especially when uncertainties in the global economy are growing due to the European debt crisis,” the ministry said in a press release.

Apparently reflecting the worsening conditions in Europe, FDI from the EU’s 27-member nations plunged 31.6 percent on-year in the first half to little over $1.4 billion. This also shows a sharp turnaround in the April-June period from a 34.6-percent gain in the first quarter. 

(Yonhap News)