Every time China decreases investment here by one percentage point, Korea's annual economic growth rate drops by 0.6 percentage points, according to a study by the International Monetary Fund released Sunday.

The study, which focuses on the global impact of economic risk in major countries, names the worsening eurozone crisis, decreasing Chinese investment, deteriorating U.S. fiscal health and a rise in Japanese bond yields as the four biggest threats to the world economy.

The correlation stems from the fact that Korea depends on China for a quarter of its exports, a Ministry of Strategy and Finance official said. The study shows that if Chinese investment dwindled, Korea's economy would be the third most heavily impacted after Malaysia and Taiwan.