By Park Hyong-ki
Korean overseas direct investment reached a record $14.1 billion in the first quarter of this year, up 45 percent from a year earlier, according to the Ministry of Economy and Finance, Friday.
This also marks the second-highest increase following the first quarter of 2017 when the number rose to 63 percent, it added.
The record was led by local manufacturers making deals and expanding especially in the United States amid trade protectionism.
Local manufacturers invested $5.8 billion overseas, up 140 percent in the same period, a record high for the sector, the ministry said.
CJ CheilJedang, a local food conglomerate, acquired U.S.-based frozen food maker Schwan's Company for $1.84 billion last February.
"The food deal in the U.S. and increased investments in China's display sector led the manufacturers' overseas investments," the ministry said in a statement.
Korean investments into foreign insurance and financial sectors jumped 48.2 percent to $4.76 billion during the first quarter, while offshore investments in the foreign mining sector dipped 19.5 percent to $330 million.
By country, Korea's first-quarter foreign investments in the U.S. reached $3.7 billion, up 95 percent, followed by $1.7 billion in China.
Its investments in Singapore, the Southeast Asian hub, jumped 315 percent to $1.1 billion.
Meanwhile, its investments in Vietnam dropped nearly 15 percent to $930 million in the same period.
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This also marks the second-highest increase following the first quarter of 2017 when the number rose to 63 percent, it added.
The record was led by local manufacturers making deals and expanding especially in the United States amid trade protectionism.
Local manufacturers invested $5.8 billion overseas, up 140 percent in the same period, a record high for the sector, the ministry said.
CJ CheilJedang, a local food conglomerate, acquired U.S.-based frozen food maker Schwan's Company for $1.84 billion last February.
"The food deal in the U.S. and increased investments in China's display sector led the manufacturers' overseas investments," the ministry said in a statement.
Korean investments into foreign insurance and financial sectors jumped 48.2 percent to $4.76 billion during the first quarter, while offshore investments in the foreign mining sector dipped 19.5 percent to $330 million.
By country, Korea's first-quarter foreign investments in the U.S. reached $3.7 billion, up 95 percent, followed by $1.7 billion in China.
Its investments in Singapore, the Southeast Asian hub, jumped 315 percent to $1.1 billion.
Meanwhile, its investments in Vietnam dropped nearly 15 percent to $930 million in the same period.
