(MENAFN- Qatar News Agency) oul April 21 - Foreign investment in South Korea rose 3.8% last year led by US and European investors who mostly increased their purchase of local stocks and bonds the central bank said Monday. Outstanding foreign investment in Asia's fourth-largest economy amounted to a record US$991 billion as of the end of 2013 compared with $954.7 billion the previous year according to data by the Bank of Korea (BOK). The data covered foreigners' direct investment portfolios and other types of investment. Foreigners' direct investment rose by $11.2 billion on-year to $167.3 billion last year and their investment in local stocks and bonds gained by $39.2 billion to $617.4 billion it added. The rise in foreign investment came mainly as foreign investors ramped up their purchase of local stocks and bonds due to South Korea's sound economic fundamentals it said. Korea differentiated itself from other emerging countries that suffered excessive foreign capital outflows due to speculation over the US Federal Reserve's monetary stimulus cut. The BOK said that by region the US was the largest foreign investor in Korea with $274.4 billion followed by the European Union with $270.5 billion and Southeast Asian nations with $159.5 billion according to South Korea's (Yonhap) News Agency. The US was also the largest investor in Korea's stocks and bonds with $217.5 billion in 2013 while the EU was the No. 1 region in making direct investment in Korea with $64.6 billion it said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.