Foreign direct investment (FDI) poured into Seoul hit an all-time high since the global financial crisis in 2008, according to data revealed on Monday. The total FDI of $6 billion in 2014 is largely attributed to inflow from the US and Europe, according to Business Korea.
According to data gathered by the Seoul Metropolitan Government, the South Korean capital received a total FDI pledge in of $6.14 billion in 2013. This is a 5.7% increase from 2012's FDI. The increase was mainly because of the US' active investment in the city. The said data also revealed that European investment also soared to 84.4% on-year to $2.86 billion last year, the report detailed.
By region, Europe took credit for the largest chunk of the total FDI of Seoul in 2013, which is 46.6%. North and South America invested $1.7 billion, which accounted for 27.6%, the report said.
Around $1.57 billion, or 25.7% of the FDI, came from Asia in 2013. This marks a 50.7% decrease from 2012. According to the data, this is largely because of the 48.1% plunge of Japan's investments into its neighboring country, Business Korea reported.
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