SEOUL, Oct. 1 (Xinhua) -- South Korea saw a surge in foreign direct investment (FDI) into the nation in the third quarter on the back of the government's stimulus packages and favorable exchange rates, a government report said Thursday.
According to a preliminary report by the Ministry of Knowledge Economy, South Korea's FDI rose 17.4 percent on year to 3.37 billion U.S. dollars, up from 2.87 billion a year ago.
The growth in FDI, which plummeted in the first quarter amid a global financial turmoil, came as South Korea's parliament passed a 28.4 trillion-won (24.1 billion-U.S. dollar) supplementary budget in late April, the ministry explained.
The South Korean currency, which depreciated against the U.S. dollar, also contributed to the surge in inbound investment, the ministry added.
FDI in the third quarter was mostly poured into the distribution sector and business services, as well as electronics, power and real estate, the ministry announced.
With on-year increase in FDI for two consecutive quarters, the total amount of FDI from January to September stood at 8.01 billion U.S. dollars, an official at the economy ministry said.
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