SEJONG, Sept. 18 (Yonhap) — South Korea’s overseas direct investment sank 27.8 percent on-year in the second quarter of this year, as the coronavirus pandemic weighed on investment flows around the world, data showed Friday.
The value of investments made by South Korean companies came to US$12.14 billion in the April-June period, compared with $16.82 billion for the same quarter last year, according to the data compiled by the Ministry of Economy and Finance.
It marked the sharpest quarterly decline since the first quarter of 2018, the data showed.
South Korean companies invested $2.18 billion in the United States in the second quarter, down 38.5 percent on-year.
By sector, investments made by South Korean financial and insurance companies slipped 21.3 percent on-year to $5.05 billion in the second quarter.
Manufacturing firms’ combined investments plunged 62.7 percent on-year to $2.1 billion in the second quarter, according to the ministry.