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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

Weekly Briefs (Aug. 19 - 23)

Weekly Briefs (Aug. 19 - 23)

Aug. 26, 2013

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Monday, August 19
In the first half of 2013, Korea's overseas direct investment contracted from the previous year due to a decrease in mining investment. The Ministry of Strategy and Finance reported Korea's outbound foreign direct investment (FDI) dropped 23% year-on-year to log US$16.22 billion. In particular, the first half saw the fastest pace of decrease since the same period in 2009 when the FDI plunged 52.1%. While the nation's outward investments in almost all industries underwent year-on-year decreases, the mining sector saw the biggest drop at 57.1%. Finance and insurance, real estate and lease, and manufacturing also declined by 9%, 6% and 0.9%, respectively. By region, Korea' FDI rose 86.3% in Central and South America and 33.1% in Europe but diminished in the Middle East, North America and Asia by 77.7%, 33.8% and 29.6%, respectively. The ministry forecasts that the country's FDI for this year will decrease on uncertainties over the investment environment and falling mining investment.

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