The nation’s 30 largest conglomerates cut their investment in facilities by 11 percent last year amid uncertain business circumstances, a corporate information provider said Sunday.
CEO Score said that Korea’s top 30 business groups invested a combined 101.2 trillion won in their facilities in 2014, down 11 percent from year ago. In terms of total investment, the figure dropped 6 percent to 149 trillion won ($136billion) during the same period, the firm said. CEO Score compiled the data from 274 companies of the groups based on their business reports.
“The government is encouraging companies to increase investment, but it seems that they are reluctant to do so,” the head of CEO Score Park Ju-gun said in a statement.
Park said that corporate investment has dwindled since 2012.
This comes came amid the Park Geun-hye administration’s push for companies to increase investment and hike wages to boost sluggish private consumption. Finance Minister Choi Kyung-hwan urged big companies to play a role in revitalizing the economy, but the family-run business groups have shown no visible response.
The nation’s 30 largest conglomerates cut their investment in facilities by 11 percent last year amid uncertain business circumstances, a corporate information provider said Sunday.
CEO Score said that Korea’s top 30 business groups invested a combined 101.2 trillion won in their facilities in 2014, down 11 percent from year ago. In terms of total investment, the figure dropped 6 percent to 149 trillion won ($136billion) during the same period, the firm said. CEO Score compiled the data from 274 companies of the groups based on their business reports.
“The government is encouraging companies to increase investment, but it seems that they are reluctant to do so,” the head of CEO Score Park Ju-gun said in a statement.
Park said that corporate investment has dwindled since 2012.
This comes came amid the Park Geun-hye administration’s push for companies to increase investment and hike wages to boost sluggish private consumption. Finance Minister Choi Kyung-hwan urged big companies to play a role in revitalizing the economy, but the family-run business groups have shown no visible response.
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