South Korea’s investment in the United States hit a five-year high last year, while the U.S.’ investment in South Korea decreased by 30 percent.
According to data from the Korea International Trade Association(KITA), new South Korean investment in the U.S. reached almost seven billion U.S. dollars in the first nine months of last year.
The amount, even without fourth quarter figures, marks the largest since 2011, when it posted seven-point-three billion dollars.
South Korea’s investment in the U.S. increased for the second consecutive year, but the U.S. investment in South Korea shrank about 30 percent from five-point-five billion dollars in 2015 to three-point-nine billion dollars last year.
An official at the organization said if the Donald Trump administration demands a renegotiation of the Korea-US free trade agreement, Seoul could use the data to point out South Korea is investing more in the U.S. and contributing to job creation there.