NEW DELHI: A study conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) on `India as destination for foreign direct investment in the 21st century: The Korean perspective' reveals that despite infrastructural constraints the companies expressed positive sentiments signalling that with "serious and concerted effort, India and Korea could become important business partners with more Korean investment finding its way into promising sectors in India." South Korea ranks fifth in terms of cumulative foreign direct investment (FDI) approved from January 1991 to June 2002. A survey was conducted by the FICCI among Korean companies with operations in India. "It is encouraging to observe that all companies making profits in their activities in India are looking at further expansion of the scale of their operations. As many as 50 per cent of the companies that are breaking even in their India operations are targeting expansion. Even 44 per cent of the Korean companies making losses in India are keen to increase activities in India," the study revealed. As per statistics released by Ministry of Industry, South Korea accounts for about 4.15 per cent of total FDI approvals from January 1991 till June 2002 (excluding the amount approved by ADRs/GDRs). This amounts to $2.63 billion as against the total FDI figure of $63.44 billion for the period. In terms of cumulative (actual) inflows, South Korea accounted for 3.39 per cent of the total inflows. Sectors attracting FDI from South Korea are transportation, fuels, electrical equipment, chemicals (other than fertilisers) and commercial, office and household equipments. South Korea also accounts for 2.78 per cent of the total technical collaboration approvals since 1991, with 203 collaborations being granted so far.