Singapore, South Korea, Hong Kong best in Asia for investors
According to the Korea Trade-Investment Promotion Agency (KOTRA), the country was ranked the second among seven Asian countries surveyed in terms of attractiveness to foreign investment. The other six countries are Singapore, which ranked the highest, Hong Kong, Japan, China, Taiwan and Malaysia, according to KOTRA.
In the survey, 243 foreign businesses in 21 countries were asked 28 items in 10 investment related areas, including market size, labor cost, stability and tax.
South Korea received the highest points among the seven countries in most of areas concerning social infrastructure, such as logistics, communications and stability of power supply.
It, however, scored one of the lowest in terms of geopolitical risks, apparently due to its long lasting tension with communist North Korea.
Out of all respondents, 47 percent already had stakes in South Korea, with another 29 percent saying they had plans to invest in South Korea, KOTRA said.
The Ministry of Trade, Investment and Energy earlier said the amount of foreign direct investment pledged to South Korea in the first three months of the year jumped 49.1 percent on-year to US$5.06 billion from the same period last year. ■