S. Korea`s overseas investments surge on takeovers, energy projects

SEOUL, Nov. 7 (Yonhap) -- South Korea's overseas investments jumped this year as companies stepped up efforts on corporate takeovers and energy-development projects in foreign countries, a government report showed Friday.

According to the report by the Finance Ministry, South Koreans' overseas
investments amounted to US$22.81 billion during the first nine months of this
year, up 52 percent from the same period a year earlier.
The surge stemmed mostly from local companies' takeover of foreign businesses and
energy-development projects, the ministry explained.
Investments by large conglomerates more than doubled to $14.2 billion from the
$6.9 billion recorded a year ago. Small and medium-sized companies also saw their
overseas investments increase 5.8 percent to $7.16 billion and individuals'
investments grew 9.5 percent to $1.38 billion.
The U.S. is the most preferred destination, with a total of $5.3 billion invested
in the nation. China came in second with $3.5 billion, followed by Hong Kong and
Vietnam with $2.2 billion and $1.39 billion, respectively, the report showed.
kokobj@yna.co.kr
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