Foreign direct investment in Korea surged to a record high in 2012. This is according to the Ministry of Knowledge Economy, which noted investment from China more than doubled last year.

The total amount of new FDI in the country last year rose almost 20 percent from 2011 to stand at US$16.2 billion.

Ministry officials attribute the growth to greater confidence in the Korean economy after a rise in the nation's credit ratings and the implementation of free trade agreements with the U.S. and the European Union.