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  • Writer's pictureJ&J Korea

Business News Update Jul, 2022

Updated: Sep 5, 2023


Piggy Bank

Overseas direct investment more than doubles in Q1 amid post-pandemic recovery

South Korea's overseas direct investment more than doubled on-year in the first quarter of this year amid an economic recovery from the COVID-19 pandemic, the finance ministry said on June 17. The value of investments made overseas by South Korean companies reached USD 25.4 billion in the January-March period, up from USD 11.3 billion a year earlier, according to the data by the Ministry of Economy and Finance. The net amount went up nearly threefold to USD 21.5 billion in the first quarter from the previous year's USD 7.1 billion, the data showed. The ministry attributed the growth to a low base effect and eased uncertainties as the spread of the coronavirus had slowed down across the globe.



South Korea City View

Korea ranks 15th in travel & tourism development rankings, fourth in Asia.

South Korea ranked No. 15 in global scale, its highest yet, in terms of travel and tourism potential last year, four notches higher from the previous year. According to a report by the World Economic Forum (WKF) in late May, Korea moved up four notches to 15th in the overall rankings of the Travel & Tourism Development Index 2021, with a score of 4.8 among 117 countries. Japan topped the list, followed by the United States and Spain. In Asia, Singapore ranked second-largest ninth, and China third-largest 12th. Korea achieved the biggest leap in a year in the top 30. It marks the highest ranking in history as well.



 

**This article is extracted from Invest KOREA Magazine July, 2022.




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