F.P. Report
SEOUL: Foreign direct investment (FDI) in South Korea rose in single digits in the first quarter of this year due to higher greenfield investment, government data showed on Thursday.
The reported FDI came to 5.63 billion US dollars in the January-March quarter, up 3 percent from the same quarter of last year, according to the Ministry of Trade, Industry, and Energy.
It marked the highest first-quarter amount on higher greenfield investment.
Greenfield investment, which involves factory construction and employment, advanced 13 percent over the year to 4.18 billion dollars in the first quarter.
The merger and acquisition investment was reduced by 16 percent to 1.45 billion dollars in the cited quarter.
The FDI in the manufacturing industry shrank 6 percent to 1.54 billion dollars, but foreign investment in the domestic services sector gained 5 percent to 3.95 billion dollars.
The direct investment from Europe more than tripled to 2.08 billion dollars, but investment from the US and Japan retreated by double figures to 750 million dollars and 300 million dollars respectively. (APP)
