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Incoming foreign direct investment dropped to single-digit growth in the second quarter, the lowest in a year. The Knowledge Economy Ministry said Wednesday that FDI in the first half, based on the amount reported, grew 35 percent year-on-year to US$4.5 billion.
FDI grew nearly 70 percent in the first quarter, the highest since 79 percent in the second quarter of 2006. But FDI growth in the April-to-June quarter of this year plunged to 3.5 percent, a red flag to achieving this year's target of $12 billion.
The ministry's investment policy manager Moon Seung-wook vowed government-wide efforts to attract investment in order to meet the target despite the worsening investment environment in the second half, which includes sluggish advanced economies due to high oil prices.
(englishnews@chosun.com )
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