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KOREAN FOREIGN DIRECT INVESTMENT PLUNGES IN FIRST 5 MONTHS OF 2003.
SEOUL, July 1 Asia Pulse - The nation's balance of direct investment has been getting worse as foreign direct investment (FDI) has been decreasing this year, with local firms transferring their production facilities overseas, according to the Bank of Korea (BOK) Tuesday.
A direct investment refers to an investment which is large enough to affect a company's subsequent decision.
During the first five months of this year, the FDI in South Korea plummeted to US$412 million from $812 million during the same period last year.
It surged to $9.33 billion in 1999 from $5.41 billion in 1998 and $2.84 billion in 1997, but then fell to $9.28 billion in 2000, 3.52 billion in 2001 and $1.97 billion in 2002.
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