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한국의 해외직접투자 현황과 성과

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  • 한국의 해외직접투자 현황과 성과
  • 왕윤종
  • 대외경제정책연구원


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Title 한국의 해외직접투자 현황과 성과
Similar Titles
Material Type Reports
Author(Korean)

왕윤종

Publisher

[서울]:대외경제정책연구원

Date 1998
Series Title; No 연구보고서 / 97-02
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Link
Original Format pdf
Subject Economy < Direct Investment
Holding Korea Institute Economic Policy

Abstract

Korea's Overseas Direct Investment: Its Performance and Problems Yunjong Wang Top-notch multinational corporations are actively undertaking overseas direct investment as a globalization strategy. With this global trend, Korean companies have also earnestly started to pursue overseas operations since mid 1990s. However, their financial performance has not been satisfactory until now. In general, domestic companies outperformed Korea's overseas subsidiaries in 1994-95. By region, financial performance of overseas companies was so bad in China, Europe, and the United States, while moderately successful in South East Asia and Latin America. By investment size, larger investment recorded worse performance. By manufacturing sector, performance was comparatively good in foods, textile and apparrel, woods and furniture, and non-metallic mineral, while red inked in footwear, leather, basic metals, and fabricated metals. By equity ratio, companies with majority shares performed worse than ones with minority shares. Early birds recorded even unsatisfactory, but relatively stable performance. Late entrants on the average did not make profits. Korean companies abroad also showed similar, or even worse propensity to overborrow in their financial structures. In all regions except China, overseas companies recorded higher debt to equity ratios than domestic companies on the average. In particular, larger companies preferred to borrow from international or local financial markets because financial costs were cheaper there than in domestic financial markets. (The rest omitted)