New foreign direct investment(FDI) pledged to South Korea has surpassed 20 billion dollars for the fifth consecutive year in 2019.

The Ministry of Trade, Industry and Energy said on Monday that South Korea secured 20-point-three-billion dollars worth of annual FDI commitments as of December second.

FDI fell 37 percent on-year in the first half of this year due to the prolonged trade row between the United States and China, but it bounced back in the second half thanks to major investments pledged by foreign technology firms.

A ministry official said active investment commitments have been made by foreign firms despite mounting domestic and international uncertainties.

The official said that South Korea's materials, parts and equipment industries have been of particular interest for investors.

The ministry plans to expand cash incentives for companies that invest in the parts, materials and equipment sectors and simplify the process for foreign businesses to win construction permits for factories.