South Korea's direct investment in the Association of Southeast Asian Nations (ASEAN) surged nearly 17 percent in 2018 amid fierce competition from Japan and China to stave off a growing market, data showed Friday.
South Korean firms invested $ 5.26 billion in ASEAN countries last year, up 16.7 percent from a year earlier, according to the Korea International Trade Association and the Export-Import Bank of Korea.
Seoul's direct investment in the region has grown at an annual rate of 4.2 percent since publishing $ 4.45 billion in 2010.
The jump last year came as South Korean companies began to step up their efforts to enter the ASEAN market with growth potential and cheap labor.
Last year, South Korean corporations created about 1,300 new firms in ASEAN member states, nearly double the number in the previous year.
Seoul is not alone in its pursuit of forays into ASEAN. Japan and China are also stepping up direct investment in the region.
South Korean investment in ASEAN up 17% in 2018
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Azovpromstal® 15 November 2019 г. 12:24 |
