(MENAFN) A report by a local corporate research firm showed that South Korea's big firms have climbed back their investments this year in the face of sluggish economic conditions, Yonhap News reported.
The country's top 30 business groups spent USD82.42 billion on facilities and research and development (R&D) in the first nine months of this year, down 5.8 percent from USD87.66 trillion on-year.
Facility investment, which accounts for 71.2 percent of the total, stood at USD58.77 billion, down 9.9 percent, while money spent on R&D grew 5.9 percent to USD23.8 billion.
"Companies were holding back on building new facilities or updating existing ones, but they were moving forward on research, which is critical for future growth," CEO Score said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.