S. Korea's overseas investment plunges amid economic slowdown

SEOUL, May 1 (Yonhap) -- South Korea's overseas investment plunged during the
first quarter of this year as a protracted global recession discouraged risk
taking abroad, a government report showed Friday.

According to the report by the Ministry of Strategy and Finance, South Korea's
investment in foreign countries totaled US$3.88 billion during the January-March
period, down 57.3 percent from the same quarter a year earlier.
Investment in China plunged 66 percent to $550 million over the cited period,
while that in the United States also declined 51.1 percent to $1.16 billion,
accounting for a large share of the overall contraction, the report showed.
kokobj@yna.co.kr
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