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S. Korea's Direct Investment in US Rises 14% in 2020

Written: 2021-08-29 13:44:05Updated: 2021-08-29 13:51:29

S. Korea's Direct Investment in US Rises 14% in 2020

South Korea's direct investment in the United States posted a double-digit growth last year.

According to data by the U.S. Commerce Department on Sunday, the Asian country's direct investment in the United States came to 63-point-67 billion U.S. dollars last year, up 14-point-two percent from a year earlier.

Direct investment in the United States by countries around the world grew four-point-two percent on-year during the cited period.

Direct investment, or foreign direct investment, refers to an investment in foreign business enterprises designed to acquire a controlling interest in the enterprise.

South Korea's direct investment in the United States soared to 58 billion dollars in 2018, a year after President Donald Trump took office before plunging to 55-point-seven billion dollars in 2019.

Japan made the largest direct investment in the United States last year with 647-point-seven billion dollars, followed by Canada, Britain, the Netherlands and Germany.

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