Foreign investment falls a 2nd month

Foreign direct investment in Korea has decreased for the second straight month, and it is likely that the nation will hardly achieve this year's goal of attracting US$16 billion.

The Ministry of Commerce, Industry and Energy (MOCIE) reported that foreign direct investment decreased by as much as 50.5 percent in November to US$1.54 billion. It shrank 2.1 percent in October, so it is the second consecutive month that investment has declined.

Total investment from January through November this year amounted to US$13.71 billion, showing an increase of 2.6 percent from the same period of a year ago.

"Many Japanese firms are considering investments in Korea, but they are now hesitating to make an actual investment because of the labor strife," Park Bong-Kyu, MOCIE's director general for international trade and investment, said.

Lee Byong-Ki eye@donga.com