Overseas direct investment by South Korean firms grew for the fourth straight year and hit a record high in 2018.

The Ministry of Economy and Finance said Friday that overseas direct investment rose eleven-point-six percent last year to 49-point-78 billion dollars.

It's the largest amount since related data began to be compiled in 1980, and was driven in part by mergers and acquisitions in the semiconductor industry.

Overseas direct investment shifted to positive growth of a little over six percent in 2015 and then posted over 30 percent growth in 2016 and 12-point-six percent in 2017.

By region, Asia accounted for the largest share of South Korean investments at 34 percent, followed by Europe at over 23 percent, and North America at 22-point-eight percent.