The Korea Economic Research Institute announced on October 15 that South Korea’s ratio of foreign direct investment (FDI) to gross domestic product (GDP) ranked 152nd out of 237 countries around the world and 23rd out of the 34 member countries of the Organization for Economic Cooperation and Development (OECD) last year.
The institute pointed out that the South Korean government needs to foster a business-friendly environment by means of deregulation and so on for South Korea to create more jobs by attracting more FDI.
Specifically, the FDI-to-GDP ratio of South Korea stood at 0.8% last year. The data is based on the World Investment Report of the United Nations Conference on Trade and Development (UNCTAD). During the same period, South Korea ranked 33rd out of 237 countries around the world in terms of overseas direct investment-to-GDP ratio.