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FDI pledges made to S. Korea hit all-time high in 2021

Songdo International City in IFEZ (Yonhap)
Songdo International City in IFEZ (Yonhap)
Foreign direct investment (FDI) pledges made to South Korea surged 42.3 percent in 2021 from a year earlier to reach an all-time high, data showed Monday.

Foreigners pledged to invest $29.51 billion in South Korea in 2021, compared with $20.7 billion a year earlier, according to the data by the Ministry of Trade, Industry and Energy.

The 2021 figure hit an all-time high, beating the previous record of $26.9 billion logged in 2018, it added.

The amount of investment that actually arrived in South Korea last year jumped 57.5 percent on-year to $18.03 billion.

By segment, the service sector saw its FDI pledges rise 64.2 percent on-year to reach $23.57 billion, particularly in information and communication, leasing service and retail sectors, according to the data.

But FDI pledges made to the manufacturing sector decreased 16.2 percent to $5 billion, the data showed.

By country, investment from the European Union nearly tripled to come to $12.8 billion last year, and the amount from Chinese-speaking nations advanced 38.1 percent to $7.54 billion.

FDI pledges from the United States inched down 0.9 percent to $5.26 billion, while investment from Japan went up 52.8 percent to 1.21 billion last year, according to the data. (Yonhap)

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