China has become the largest target of investment from the
Republic of Korea, according to information from the 9th East Asian
Economic Cooperation Forum.
As of June this year, China attracted a direct investment of
US$28.7 billion from ROK investors, said Xu Changwen, head of the
Asian-Pacific Study Center of the International Trade and Economic
Cooperation Institute under the Ministry of Commerce.
According to a survey by an ROK union concerning trade and
economics, 60 percent of ROK investors are satisfied with their
businesses in China and consider China their first choice of
investment.
ROK investors mainly focus on the eastern part of China.
80 percent of their investment goes to manufacturing, said Shen
Danyang, a researcher with the institute of the Ministry of
Commerce.
Beijing-Hyundai, a Sino-Korean automaker, has now a production
capacity of 300,000 cars every year. It is expected to increase the
annual output to 600,000 by 2007.
In 2004, the Samsung Group, another ROK enterprise, registered
sales of US$24 billion in the Chinese market, 22 percent of its
overseas sales.
(Xinhua News Agency November 27, 2005)