Foreign investors desert South Korea
(13th January 2004 – South Korea) South Korea’s aspirations of becoming a major regional business centre have received a severe blow with the news that foreign investment dropped by a third in 2003.
According to the country’s commerce ministry, proposed foreign direct investment (FDI) dropped by 23 percent to US$6.47 billion with FDI for Q4 at $1.84 billion, 1.1 percent lower than the corresponding period in 2002.
Despite these figures, the South Korean ministry put a positive spin on the economy, flagging an increase in foreign investment in 2004.
South Korea’s economy has suffered in recent times from high unemployment, industrial disputes and China’s cheaper labour. Many regional experts are tipping modest growth in 2004.
Despite these figures, the South Korean ministry put a positive spin on the economy, flagging an increase in foreign investment in 2004.
South Korea’s economy has suffered in recent times from high unemployment, industrial disputes and China’s cheaper labour. Many regional experts are tipping modest growth in 2004.
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