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A growing number of Korean companies are looking outwards for new growth engines such as domestic and overseas mergers and acquisitions.
According to a Bank of Korea report Tuesday, Korean companies spent almost W34 trillion (US$1=W1,018) on mergers and acquisitions last year, a 77 percent increase compared to three years ago.
Analysts say Korean companies turned to M&As rather than tangible assets to increase profits and avoid risks.
Meanwhile, last year's US$20.3 billion in direct overseas investment was three times higher than in 2005.
Arirang News
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