S Korea's overseas investment halves in first 6 months

• Source: Xinhua
• [16:19 August 05 2009]
• Comments

South Korea's overseas investments were cut in half during the first six months from a year earlier amid a prolonged global recession, a government report showed on Wednesday.

According to a report by the nation's finance ministry, South Korea's overseas investment topped 8.12 billion US dollars during the first six months of the year, falling 53.6 percent from a year ago.

The decline is mainly attributed to the global slowdown, which caused local investors to shun away from making investments outside of the country, the report said.

While South Koreans' investment in China plummeted 61.5 percent to 1.15 billion US dollars during the period, the US investments dipped 53.7 percent to 1.57 billion US dollars, the report added.