Foreign direct investment (FDI) pledges to South Korea advanced 7.5 percent on-year in 2023 to hit an all-time high on the back of the robust performance of the chip, battery and transportation sectors, the industry ministry said Thursday.Asia's No. 4 economy received US$32.7 billion worth of FDI commitments in 2023, compared with $30.4 billion tallied a year earlier, according to the Ministry of Trade, Industry and Energy.The amount of investment that actually arrived in South Korea also set a fresh high of $18.7 billion, up 3.4 percent on-year."The investment will not only help South Korea expand its exports but also create quality jobs and add vitality to the local economy," the ministry said in a statement.By industry, the FDI pledges to the manufacturing sector fell 4.5 percent on-year to $11.9 billion due to a base effect, although those to the electronics segment, including chips, moved up 17.7 percent to $4 billion.Those to the transportation segment also more than doubled to reach $1.76 bi llion, the data showed.The service industry received total FDI of $17.7 billion in 2023, up 7.3 percent on-year.By country, the United States' investment in South Korea came to $6.1 billion, down 29.4 percent on-year.The ministry attributed the decrease to a base effect, with some U.S. firms making investments via other countries, including Australia and the Cayman Islands.The combined amount of FDI pledges from China, Hong Kong and Taiwan came to $3.12 billion, up 65.6 percent on-year, led by the manufacturing and service sectors.The investment from the European Union fell 17 percent to reach $6.22 billion in 2023, the data also showed.Source: Yonhap News Agency