South Korean FDI hits fifth straight record last year at US$36bil

Industrial growth: A container vessel of Hanjin Shipping is docked at a terminal of the port of Busan. The surge in economic activity in the country is credited to restored investor confidence after the launch of a new administration last June. — AFP

SEOUL: Foreign direct investment or FDI commitments to South Korea hit a fifth consecutive record last year, rising 4.3% to US$36bil, while actual inflows jumped 16.3% to US$17.95bil, the Trade, Industry and Resources Ministry says.

The government credited the surge to restored investor confidence after the launch of a new administration in June, which reduced political uncertainty and stabilised expectations for the economy.