S. Korea's overseas investment jumps in H1: report

SEOUL, Aug. 22 (Yonhap) -- South Korea's overseas direct investment soared in the first half from a year earlier on sharply increased investments in mining and other resource development projects, a government report showed Monday. Overseas investment made by South Korean companies and individuals amounted to US$26.90 billion in the January-June period, up 131.8 percent from a year earlier when it stood at $11.61 billion, according to the report by the Ministry of Strategy and Finance. The spike stemmed mostly from increased investment in mining and resource development projects, which surged from $3.40 billion to $16.11 billion, the report showed. Such investment increased sharply in the U.S., Australia and Cambodia. Investment also expanded in emerging countries such as China and India where South Koreans injected $2.32 billion and $360 million, up 27.6 percent and 252.2 percent from a year earlier, according to the report. Growing worries over fiscal health in the U.S. and some European countries will likely affect investor sentiment in the months to come but the report noted that the nation's outbound investment is expected to improve significantly this year given its recent growth pace. South Korea's first-half overseas investment was 52 percent greater than the $17.63 billion tallied during the same period of 2008 when its corresponding figure hit an all-time high of $36.85 billion, the report noted.