Chinese enterprises are buying equity stakes in their South Koreans counterparts at a record pace.

China's investments in South Korean companies have soared 119 percent so far this year to 1.9 billion dollars (2.2 trillion won), led by deals mainly in the insurance, technology, health-care and cosmetics industries, according to data compiled by Bloomberg.

Bloomberg also said the acquisition spree by the Chinese firms is likely to extend as China seeks to hasten a transformation away from smokestack industries, that South Korea began more than 30 years ago.

China's top listed companies are taking advantage of Korean know-how to serve a domestic consumer market that now accounts for more than half of the country's economic expansion, the U.S. news agency added.

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[ 한국 뉴스 채널 와이티엔 / Korea News Channel YTN ]

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