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South Korea FDI Hits Record High In 2012

1/2/2013 11:21 PM ET

The amount of pledged foreign direct investment (FDI) in South Korea hit an all-time high in 2012, reports said Thursday, citing data from the Ministry of Knowledge Economy.

A total of $16.26 billion FDI plans were registered with South Korea in the 2012, according to the ministry. In the fourth quarter of 2012, $5.058 billion FDI pledges were received, which was 16.9 percent less than a year earlier.

The ministry forecast pledged FDI to decrease slightly to about $15 billion in 2013.

Meanwhile on Thursday, the Cabinet decided to allocate 45.1 percent of South Korea's annual budget spending for the first quarter of 2013, the Ministry said in separate report.

The government plans to spend around 60 percent of the ratified budget in the first half of the year. This amounts to 72 percent of the overall budget.

by RTT Staff Writer

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