Korea’s overseas direct investment plunges in Q1

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Korea’s overseas direct investment plunges in Q1

Korea’s overseas direct investment plunged in the first quarter compared to a year earlier due to a base effect, government data showed Tuesday.

Investments made by Korean companies in other countries totaled $9.61 billion in the January-March period, compared with $13.4 billion a year ago, according to the data compiled by the Ministry of Strategy and Finance. This is also a 5.2 percent slump from last quarter.

During the first quarter of last year, massive overseas takeovers by Korean firms led a sharp increase in direct investment.

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