South Korea’s Overseas Direct Investment Falls for Second Straight Year in 2024Seoul, 16 Mar (ONA) — South Korea’s overseas direct investment
declined for the second consecutive year in 2024 amid ongoing
geopolitical uncertainties, but the pace of decline slowed compared
with the previous year, the South Korean finance ministry said.

Offshore investments made by South Korean companies fell 1.8
percent on-year to reach $63.95 billion last year, according to data
compiled by the Ministry of Economy and Finance. The 2024 figure
marks a deceleration from a 22.2 percent on-year drop in the previous
year, which was the first annual decline since 2020.

The ministry attributed the slower decline to increased
investment in alternative assets by pension funds in advanced
economies and continued corporate investments in high-tech
industries, including semiconductors and batteries.

By sector, offshore investment in most industries increased last
year (2024), but investment in the manufacturing sector plunged 21.6 percent
on-year, offsetting gains in other sectors.

The United States accounted for the largest share of South Korean
overseas investments, receiving $25.88 billion in 2024, followed by
Europe at $13.87 billion, the data showed.

The finance ministry said the government will continue
cooperation with key investment destinations to ensure South Korean
firms can maintain stable business operations amid rising global
protectionism and supply chain restructuring.— Ends/Khalid