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 a year ago. In terms of total investment, the figure dropped 6 percent to 149 trillion won ($136 billion) 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.
CEO Score, however, said that corporate investment in research and development (R&D) has increased, showing that the groups are moving from being fast followers to first movers.
The groups' investment in R&D reached 35.3 trillion won last year, up 1.6 percent from the previous year. Their investment in intellectual property also jumped 18.8 percent to 12 trillion won during the same period.
By conglomerate, Samsung invested the most with 50.4 trillion won in 2014, down 5.6 percent from the previous year. SK came second with 25.2 trillion won, followed by LG with 16.4 trillion won and Hyundai Motor with 15 trillion won.
The combined investment of the four largest groups marked 107.1 trillion won, accounting for 72.1 percent of the total from 30 groups.
By company, Samsung Electronics topped the investment list with 38.7 trillion won, followed by Hyundai Motor with 6.8 trillion won and SK Hynix with 6.5 trillion won.
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 a year ago. In terms of total investment, the figure dropped 6 percent to 149 trillion won ($136 billion) 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.CEO Score, however, said that corporate investment in research and development (R&D) has increased, showing that the groups are moving from being fast followers to first movers.The groups' investment in R&D reached 35.3 trillion won last year, up 1.6 percent from the previous year. Their investment in intellectual property also jumped 18.8 percent to 12 trillion won during the same period.
By conglomerate, Samsung invested the most with 50.4 trillion won in 2014, down 5.6 percent from the previous year. SK came second with 25.2 trillion won, followed by LG with 16.4 trillion won and Hyundai Motor with 15 trillion won.
The combined investment of the four largest groups marked 107.1 trillion won, accounting for 72.1 percent of the total from 30 groups.
By company, Samsung Electronics topped the investment list with 38.7 trillion won, followed by Hyundai Motor with 6.8 trillion won and SK Hynix with 6.5 trillion won.
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