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FDI in S. Korea hits document excessive by means of September

SEOUL, Oct. 5 (Xinhua) — Foreign direct funding (FDI) in South Korea hit a document excessive for the primary 9 months of this 12 months as a result of bigger funding in superior sectors comparable to semiconductors and batteries, authorities information confirmed Wednesday.

The reported FDI amounted to 21.52 billion U.S. {dollars} within the January-September interval, up 18.2 % in comparison with the identical interval of final 12 months, in accordance with the Ministry of Trade, Industry and Energy.

It marked the best within the reported FDI, topping 20 billion {dollars} for the primary time by means of the three quarters.

The document FDI was pushed by larger funding in chips, secondary batteries and electrical autos.

The reported FDI within the manufacturing trade reached 7.8 billion {dollars} within the nine-month interval, up 152 % from a 12 months earlier.

Foreign funding within the home providers sector declined 11.5 % to 12.67 billion {dollars}.

Direct funding from the United States and Japan gained to 7.13 billion {dollars} and 1.04 billion {dollars} every, however funding from the European Union lowered in double digits to three.3 billion {dollars}.

Greenfield funding, which entails manufacturing facility building and employment, plunged 24.4 % to 13.95 billion {dollars} within the nine-month interval, and the merger and acquisition funding rose 8.3 % to 7.57 billion {dollars}.