The Korea International Trade Association says South Korea poured six.one billion U.S. dollars into ASEAN last year, up 16.seven percent from the previous year.
The country's direct investment in ASEAN was only four.four billion dollars in 2010, but it has been expanding quickly ever since.
South Korean companies that have operations in the ASEAN market say steady demand for South Korean products and cheaper labor were the main reasons for their entry.
However, South Korea is not the only country boosting its investments into the rapidly-developing Southeast Asia region.
Total direct investment in ASEAN has risen from 21.8 billion dollars in 2000 to over 148 billion dollars last year.
South Korea, China, and Japan have all upped their investments.
In fact, last year, the three countries accounted for almost a quarter of total direct investment into ASEAN.
In terms of the proportions of that total, while South Korea's increased from two.four to four.three percent, China's direct investment amounted to eight percent of the total.
Japan's investment accounted for 12.3 percent in 2018, which is around three times more than South Korea's.
Analysts say that, with the uncertainties surrounding the global trade environment, ASEAN is forecast to take a more important role in the years to come.
Therefore, they suggest South Korea strengthen not only exports but also imports to achieve profitable results in the ASEAN market in the long run.
Kim Jae-hee, Arirang News.