China overtook the United States as the main magnet for South Korean investment last year, the finance and economy ministry said on Tuesday.
South Korean corporate investment in China rose 24 percent to US$830 million last year, despite an overall decrease in foreign investment, it said.
The United States, the long-time number one, attracted US$790 million in South Korean money, down from US$1.1 billion the previous year, it said.
South Korean companies reported a total of US$4.38 billion in direct investment abroad last year, down 10.1 percent from 2000, as sentiment was weakened by the global downturn and the September 11 terrorist attacks in the United States.
(China Daily February 6, 2002)
