According to the report, Korean manufacturing companies’ overseas investment in Vietnam has accounted for 17.7 percent of the total total investment for 2017. Meanwhile, that figure for China reduced significantly to 27.6 percent last year compared to 44.5 percent in the 2000s. The RoK’s small and medium-sized manufacturers moved away from the world’s second largest economy and turned to Vietnam for direct investment. Their direct investment in Vietnam reached 720 million USD in 2017.  The report said Vietnam's rise as a major destination for Korean manufacturers' investment can be attributed to changes in business climates and policies in both countries.