South Korea's outbound direct investment rose sharply in the second quarter, marking a fourth consecutive quarter of growth.
Outbound direct investment totaled $20.52 billion in the second quarter, up 32.3% from $15.5 billion a year earlier, according to data released on the 29th by the Ministry of Finance and Economy.
The figure was slightly lower than the $22.12 billion recorded in the first quarter, but marked the fourth straight quarter of year-on-year growth since the third quarter of last year.
By sector, finance and insurance drew the largest amount at $10.48 billion, followed by manufacturing at $3.57 billion and information and communications at $2.73 billion.
The ministry said outbound direct investment grew in the second quarter as financial and insurance firms increased globally diversified investments to broaden revenue sources, while Korean companies expanded overseas operations, led by the information and communications sector.
By region, North America accounted for the largest share at $9.19 billion, followed by Asia at $5.57 billion, Europe at $2.98 billion and Latin America at $2.14 billion. Investment in Asia rose 68.8%, while investment in North America increased 50.3%.
By country, the United States drew the most at $8.86 billion, up 53.6% from a year earlier.
