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China Becomes Main Site for South Korean Investment VOA News 5 Feb 2002 21:58 UTC 
China has overtaken the United States as the main site for South Korean investment. The finance and economic ministry in Seoul says South Korean corporate investment in China rose 24 percent last year, to $830 dollars. That topped South Korean investment in the United States, which was $790 million, down from $1.1 billion dollars the previous year. South Korean companies reported almost $4.4 billion in direct investment abroad last year, down 10 percent from 2000.
The South Korean firm, Hyundai Motors, says it has signed a non-binding agreement with Beijing Automotive Industry Holding Company to set up joint automobile production in China. Under the agreement, the two companies would use Hyundai's plant in Beijing to produce cars beginning in October. Hyundai says it plans to invest $250 million, and each firm would own half of the joint venture.
Some information for this report provided by AP,AFP,DPA.
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