NewsWorld

South Korea: Foreign direct investment falling 13.3 percent

UNITED STATES (OBSERVATORY NEWS) — FDI to South Korea fell 13.3 percent year on year in 2019.

The South Korean Ministry of Trade, Industry and Energy said in a statement on Monday that the value of foreign direct investment fell to $ 23.3 billion in 2019, compared to $ 26.9 billion in 2018.

The statement pointed out that foreign direct investment recorded more than $ 20 billion in 2019 for the fifth consecutive year.

South Korea has planned to expand incentives for foreign direct investment, as part of measures to tackle the growing suspicion stemming from the escalating Sino-US trade conflict.

The ministry announced that it is expanding the scope of monetary incentives for companies that invest in the spare parts, materials and equipment sectors, with the aim of enhancing the volume of foreign direct investment.

South Korea also plans to simplify the process for foreign companies to win building permits for factories, according to the ministry.

The South Korean central bank expected the country’s economy to grow by 2 percent year-on-year in 2019, the slowest since 2009.

It was also estimated that the economy would grow by 2.3 percent in 2020, the lowest rate since 2012.

The South Korean central bank cut interest rates to 1.25 percent in 2019, in light of the slowdown in economic growth.

Online:

This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

OBSERVATORY GLOBAL NEWS— Breaking news source, real-time coverage of the world’s events, life, politics, money, business, finance, economy, markets, war and conflict zones.

Contact us: [email protected]

Stay connected with Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.

Support The OBSERVATORY from as little as $1 – it only takes a minute. Thank you.

We are OBSERVATORY — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes OBSERVATORY possible came from you.