Foreign investment pledged to economic zones at 4-year high

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Foreign investment pledged to economic zones at 4-year high

Published: 20 Dec. 2016, 20:18

Foreign direct investment pledged to Korea’s free economic zones has reached its highest level since 2012, according to data released Tuesday by the Ministry of Trade, Industry and Energy.

The amount of FDI pledged to Korea’s FEZs as of Dec. 19 came out to $2.42 billion. That figure is 66.1 percent higher than last year, when $1.45 billion was promised. The amount pledged to FEZs makes up 13 percent of all FDI promised to the nation this year.

The amount of FDI that actually arrived in FEZs, though, remained low. Up until Monday, a total of $588 million went into FEZs, making up 6.4 percent of all FDI that entered Korea this year.

The ministry said this is because foreign investors normally commit to long-term projects, which means investment flows into the country in phases as projects progress over several years.