Foreign investment in South Korea jumps to 10-year high

Foreign direct investment in South Korea rose to a 10-year high this year, boosted by the country's fast economic recovery and confidence about growth prospects, a government report showed Wednesday. Investment pledged by foreigners this year reached 12.9 billion dollars, up 12.1 percent from a year earlier, the Ministry of Knowledge Economy said.
"The gain reflects confidence about our solid economic fundamentals," it said in a statement, adding tensions with North Korea had no serious impact. In the fourth quarter of 2010, foreign investment rose 62 percent year-on-year to 5.61 billion dollars, it said. Next year South Korea aims to attract 15 billion dollars in foreign investment, the ministry said, citing the country's fast economic recovery.