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S. Korea Lags Behind in FDI
S. Korea Lags Behind in FDI

S. Korea Lags Behind in FDI

S. Korea Lags Behind in FDI

South Korea is lagging behind other advanced countries in attracting foreign investment as it continues to fail to create a business-friendly environment for multinational companies, according to a local think tank Sunday, Yonhap reported. The Korea Economic Research Institute urged the Moon Jae-in administration to ease regulations and make taxes and other regulations more corporate-friendly to spur growth and create jobs. The institute is affiliated with the Federation of Korean Industries. The ratio of foreign direct investment Korea attracted to its gross domestic product stood at 0.8% in 2016, ranking 152nd among 237 countries surveyed by the United Nations, the institute said. Among 34 OECD member economies, Korea ranked 23rd. Last year, Korea produced goods and services valued at $1.39 trillion domestically and attracted $10.8 billion in foreign investments. There are two types of FDI; green-field, investments to build plants and other business facilities, and mergers and acquisitions. Luxemburg with $58.3 billion GDP topped the OECD list with 46.1%, with $26.9 billion in FDI, followed by the Netherlands with 12%, Britain with 9.8%, Ireland with 7.6% and Belgium with 7.1%.

 

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