FDI pledges made to Korea hit all-time high in 2021

Asia's Tech News Daily

FDI pledges made to Korea hit all-time high in 2021

This image provided by the Incheon Free Economic Zone agency shows Songdo international city in Incheon, west of Seoul. Courtesy of Incheon Free Economic Zone agency

Foreign direct investment (FDI) pledges made to South Korea surged 42.3 percent in 2021 from a year earlier to reach an all-time high, data showed Monday.

Foreigners pledged to invest $29.51 billion in South Korea in 2021, compared with $20.7 billion a year earlier, according to the data by the Ministry of Trade, Industry and Energy.

The 2021 figure hit an all-time high, beating the previous record of $26.9 billion logged in 2018, it added.

The amount of investment that actually arrived in South Korea last year jumped 57.5 percent on-year to $18.03 billion.

By segment, the service sector saw its FDI pledges rise 64.2 percent on-year to reach $23.57 billion, particularly in information and communication, leasing service and retail sectors, according to the data.

But FDI pledges made to the manufacturing sector decreased 16.2 percent to $5 billion, the data showed.

By country, investment from the European Union nearly tripled to come to $12.8 billion last year, and the amount from Chinese-speaking nations advanced 38.1 percent to $7.54 billion.

FDI pledges from the United States inched down 0.9 percent to $5.26 billion, while investment from Japan went up 52.8 percent to 1.21 billion last year, according to the data. (Yonhap)

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Budget 2022 must continue to provide an impetus to domestic market

Finance Minister Nirmala Sitharaman (file image) With the ongoing COVID-19 third wave, all efforts are on to prevent the economy from falling back into a calamitous slump similar to the ... Read more »

Hybrid learning here to stay as students, educators bat for blended education: HP India survey

The pandemic has turned homes into classrooms. (Image: Reuters) Even when traditional classroom learning resumes, there is a strong possibility of blended learning to continue as educators, parents and students ... Read more »

Non-residents will now have to pay in foreign currency for services in Sri Lanka: Central bank

Economy (Representational image) Tourists travelling to Sri Lanka will now have to pay for their goods and services in foreign currency, the Central Bank announced on Thursday, as part of ... Read more »

India poised for solid growth in 2022, bets top fund manager Prashant Jain

Image credit: Suneesh K “Every storm runs out of rain just like every dark night turns into day” — that’s the optimism exuberated by Prashant Jain, Executive Director and Chief ... Read more »

ReNew Power pairs up with US's Fluence over energy storage

Sumant Sinha, Chairman and CEO, ReNew Power Nasdaq-listed ReNew Power has entered into an agreement with US energy storage major Fluence to form a 50:50 joint venture in India, the ... Read more »

Retail inflation for farm, rural workers rise to 4.78%, 5.03% in December

Representative image: Reuters Retail inflation for farm and rural workers rose to 4.78 percent and 5.03 percent respectively in December 2021, mainly due to higher price of certain food items, ... Read more »

FDI flows to India slip 26% in 2021: UN report

Foreign Direct Investment (FDI) flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has ... Read more »

Budget 2022: India set for modest fiscal consolidation amid slow economic recovery

FM Nirmala Sitharaman. | PC-Moneycontrol After Budget 2020 was blown apart in a couple of months by the onset of the coronavirus pandemic, Finance Minister Nirmala Sitharaman was fully prepared ... Read more »

Agri exports likely to cross $50 billion this fiscal: Commerce Ministry

The country’s exports of agricultural products, including marine and plantation goods, increased 23.21 per cent to USD 31.05 billion in April-November 2021 and is expected to cross USD 50 billion ... Read more »

Budget 2022 | Support to real estate sector will positively impact entire economy

The year 2022 is dubbed as a year of opportunity for the real estate industry. As per estimates, the economy is expected to grow steadily at 8-9 percent, stimulating demand ... Read more »

Finance Ministry releases Rs 47,541 crore as advance instalment of tax devolution to states

FM Nirmala Sitharaman. | PC-Moneycontrol The Union Finance Ministry on January 20 released Rs 47,541 crore as advance instalment of tax devolution to states. With this, the total advance instalment ... Read more »

November sees 8.28 lakh additions to formal work, beats October score: EPFO Payroll

Representative Image (Source: ShutterStock) At least 8,27, 979 people joined formal work for the first time in November, showing a marginal uptick in the formal sector job creation over the ... Read more »

India aiming at $500 billion exports for FY23: DGFT official

Representational Image. Source: Reuters India has set up a target of $500 billion exports for the 2022-23 fiscal, a top government official said on Friday, contending that the COVID-19 pandemic ... Read more »

Moldova's Prime Minister calls Gazprom's demand to pay off debt ‘unfriendly move'

According to Natalia Gavrilita, Gazprom could "find a commercial solution" Read more »

EU complaints against Russian lumber export restrictions not justified — Economy Ministry

Russian representatives "intend to give exhaustive clarifications in respect of applied measures" within the framework of consultations on the WTO floor, the ministry’s press service said Read more »

Google facing new fine for refusal to remove data prohibited in Russia — Court

Since early 2021, Google was repeatedly fined for failure to remove information prohibited in Russia Read more »

Assembly speaker seeks support for Korean businesses in Sri Lanka

National Assembly Speaker Park Byeong-seug and Sri Lankan President Gotabaya Rajapaksa pose for camera in their meeting in Sri Lanka on Thursday. (National Assembly Speaker’s Office)National Assembly Speaker Park Byeong-seug ... Read more »

New Kakao CEO faces daunting tasks

Company has long way to go to restore public trust and investor confidence By Baek Byung-yeul NamKoong Whon, Kakao’s new CEO. Courtesy of Kakao Namkoong Whon, the newly appointed chief ... Read more »

SNL Korea becomes popular platform for actors to show off their goofy sides

Actress Shin Hae-sun in a scene from the comedy show “SNL Korea” / Screenshot from Coupang Play’s YouTube channel By Kwak Yeon-soo The second season of the revived “Saturday Night ... Read more »

Relocation of state-run banks as election pledge unnerves employees again

The sign of the Korea Development Bank (KDB) is located in front of its headquarters in Seoul. KDB is among several public financial institutions that presidential candidates say they plan ... Read more »

Samsung hints at Note in new Galaxy S series

Roh Tae-moon, president and head of MX Business at Samsung Electronics / Courtesy of Samsung Electronics By Baek Byung-yeul Samsung Electronics’ Galaxy Note series, which skipped release in 2021, is ... Read more »

MS-Blizzard deal prompts Korean game firms to seek more metaverse M&As

By Baek Byung-yeul Nexon, NCSOFT, Netmarble and other Korean game companies are expected to seek more mergers and acquisitions (M&As) in metaverse- and non-fungible token (NFT)-related businesses, sparked by Microsoft’s ... Read more »

Storytelling baristas appointed as Starbucks ambassadors

2022 Starbucks Korea ambassadors Yang Jung-eun, left, and Seo U-ram hold cups of coffee at a Starbucks coffee shop in Seoul, on Tuesday. Courtesy of Starbucks Korea By Kim Jae-heun ... Read more »

Korea remains No. 2 most popular content provider on Netflix in last quarter of 2021

A version of the Netflix series “Squid Game” is played on a mobile phone in this picture taken Sept. 30, 2021. Reuters-Yonhap Korea remained the No. 2 supplier of popular ... Read more »

More people place hopes on lottery tickets as pandemic drags on

By Lee Kyung-min Kim Sun-jin, 20, has been buying a lottery ticket each month, ever since she was let go from her part-time job at an eatery in Seoul in ... Read more »

Bitcoin prices tumble 9.6%

On January 20, the Bank of Russia informed about plans to ban issuing, mining and circulation of cryptocurrencies on the territory of Russia Read more »

Denunciation of tax convention with Switzerland not expected — official

In 2020, the Russian president ordered to impose the 15% tax on income in the form of dividends and interest transferred to accounts overseas Read more »

Nord Stream 2 AG endeavors to comply with EU rules

The company made no comment on potential consequences of possible new sanction efforts of the US Read more »

Uniper expects completion of Nord Stream 2 certification in summer 2022

Construction of the gas pipeline ended in last September Read more »

Gas price in Europe hovering around $900 per 1,000 cubic meters

The total increase in the gas price since the trading opening has reached around 3% Read more »

Burger King Japan announces discounted price for popular Whopper burgers

Photo by: Burger King Japan Burger King Japan has launched a new promotion, and it will be running for a limited time only. Customers can get two Whopper burgers for ... Read more »

(LEAD) Lotte acquires Ministop's S. Korean operations

(ATTN: UPDATES with details in 4th para) SEOUL, Jan. 21 (Yonhap) — Lotte Corp., the holding company of South Korean retail giant Lotte Group, said Friday it has acquired an ... Read more »

Novosibirsk scientists plan to install seismic stations on Arctic ice

A new long-term expedition on a unique vessel - the North Pole ice-resistant platform - is due to begin in 2022 Read more »

Yakutia's authorities: Arctic development strategy will improve Northern supplies system

The national plan includes the construction and reconstruction of regional, inter-regional automobile roads Read more »

Lotte acquires Ministop's S. Korean operations

SEOUL, Jan. 21 (Yonhap) — Lotte Corp., the holding company of South Korean retail giant Lotte Group, said Friday it has acquired an entire stake of Ministop Korea Co. for ... Read more »

S. Korea to raise supply of beef, pork ahead of holiday to tame inflation

SEOUL, Jan. 21 (Yonhap) — South Korea plans to increase the supply of beef and pork by around 50 percent on-year ahead of the Lunar New Year holiday in an ... Read more »

Dollar climbs to 76.72 rubles on the Moscow Exchange

The euro rose by 17 kopecks to 86.88 rubles Read more »

MOEX index down 3.38% at trade start

By 07:05 it decreased to 3,397.13 points Read more »

Hanjin chief borrowed money from man at center of corruption scandal, but no illegality found: sources

SEOUL, Jan. 21 (Yonhap) — Prosecutors have found Cho Won-tae, chairman of Hanjin Group and Korean Air, borrowed and repaid 3 billion won (US$2.5 million) from a man at the ... Read more »

Cabinet approves 14-tln won extra budget for small merchants

SEOUL, Jan. 21 (Yonhap) — The Cabinet on Friday approved a 14 trillion won (US$11.8 billion) extra budget plan aimed at supporting small merchants hit by the pandemic. The proposal ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic