South Korea Investment in the Biggest Economy in Eastern Europe Now Surpasses that of China

Business | September 5, 2018, Wednesday // 15:09
Bulgaria: South Korea Investment in the Biggest Economy in Eastern Europe Now Surpasses that of China

South Korea has made its biggest investments in Poland for the first time in history since foreign investments were reported by the local Investment and Commercial Agency. The volume of capital flows from the Asian nation to the largest economy in Central and Eastern Europe in 2017 is close to 1.9 billion euros or nearly 500 million more than China's country's investments in the country.

Still, the largest contributor to this direction continues to be US companies that have made investments in the largest number of projects - a total of 51 compared to 10 for South Korea. In terms of jobs, however, US investors are also outpacing those from the Asian side. JP Morgan is set to open an office in Warsaw where 2,500 people will be hired or almost three times more than people to be hired at the LG Chem factory in the country. Last year, the German concern Volkswagen also announced serious investments in its business in Poland. The group plans to extend its business there by more than 20 billion euros in the next 12 years. The funds will be directed mainly to the production of electric cars.

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