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S Korea sees foreign investment upturn in 2008
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13:06, September 18, 2009

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Foreign direct investment (FDI) in South Korea showed a tendency of upturn in 2008, as its ranking rose from 66th to 44th out of 214 countries in the world, according to a report by the Ministry of Knowledge Economy on Friday.

The report by the Geneva-based U.N. Conference on Trade and Development (UNCTAD), released here by the Ministry of Knowledge Economy, the country's FDI inflow reached to 7.60 billion U.S. dollars in 2008, up sharply from 2.63 billion dollars the year before.

The rising tendency came after three consecutive years of decline since 2005.

The FDI inflow into South Korea totaled nearly 9.0 billion dollars in 2004, ranking 19 in the world, but dropped to 7.06 billion, 4.89 billion and 2.63 billion dollars, ranking 31, 52 and66 in the following three years respectively.

The gains can be attributed to the weak South Korean won and economic stimulus programs by the government, a ministry expert was quoted by local media as saying.

The U.N. report also said the total amount of FDI inflow around the world reached to 1.69 trillion dollars in 2008, down 14 percent compared to 2007.

The report noted that the FDI inflow to the developed countries slipped sharply by 29 percent, while to the developing countries in Asia, Africa, Latin America, Eastern Europe and Commonwealth of Independent States, surged by 17 percent, bringing the proportion of FDI inflow into developing countries to 43 percent.

Source:Xinhua



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