Foreign Investment Pledges Hit Record in 2016

Foreign direct investment pledged to Korea in 2016 was the highest on record at US$21.3 billion, surpassing the $20 billion mark for the second year in a row.

The Ministry of Trade, Industry and Energy said Tuesday FDI in Korea rose 1.9 percent last year from the $20.9 billion in 2015.

FDI pledged from the European Union stood at $7.4 billion, the highest on record, and that from China increased 3.6 percent to $2.05 billion.

But the actual arrival of the money was just US$9.76 billion, down 40.9 percent from 2015 and the lowest in five years. The amount from China particularly took a dive, falling 75.7 percent.