The Republic of Korea (RoK)'s overseas direct investment rose sharply in the second quarter from a year earlier as investors focus on offshore investment in the manufacturing and financial sectors, the RoK government’s data shows.

Illustrative photo (Source: yonhapnews.co.kr)

According to Yonhap news agency, investments made by RoK companies in other countries totalled 12.96 billion USD in the April-June period, compared to 10.3 billion USD a year ago, said the data compiled by the finance ministry. This is also a 33.2 percent on-quarter jump.

The data showed investment in the US, the biggest investment destination for Korean money, increased 4.7 percent on-year to 3.62 billion USD in the second quarter, while the figure for China soared 87.3 percent to 1.21 billion USD over the cited period.

By sector, offshore investments in the financial and insurance sector more than doubled to reach 5.43 billion USD, while those allocated to the overseas property sector spiked 64.3 percent to 1.95 billion USD, the latest findings showed.

The comparable figure for the manufacturing segment also spiked 120 percent to 4.1 billion USD, they showed.

(Source: VNA)