Cylindrical battery cans (Image courtesy of Dongwon Systems)
SEOUL, Dec. 18 (Korea Bizwire) – Over the past three years, South Korea’s leading conglomerates have directed the bulk of their equity investments toward the electric vehicle (EV) battery sector, signaling a strategic focus on securing new growth engines.
According to a report by corporate research firm Leaders Index on December 17, South Korea’s top 354 companies—based on mid-2024 business filings—invested a combined KRW 12.8 trillion ($9.8 billion) in 1,368 companies since 2021.
The EV battery industry emerged as the top target, attracting KRW 4.7 trillion ($3.6 billion) across 100 firms, accounting for 36.7% of total investments.
Other key sectors included content and entertainment (KRW 1.98 trillion), biopharmaceuticals (KRW 1.59 trillion), eco-friendly energy (KRW 1.05 trillion), and artificial intelligence (AI) and big data (KRW 818 billion).
Notably, investment in robotics and drones surged sharply. While KRW 14.4 billion was allocated to 9 companies in 2021, this figure jumped to KRW 103.3 billion in the first half of 2024. Similarly, eco-friendly energy investments grew from KRW 72.2 billion in 2016 to KRW 840.1 billion last year. AI and big data investments also expanded significantly, rising from KRW 99.8 billion across 58 firms in 2016 to KRW 526.5 billion across 84 firms in 2023.
In contrast, investments in blockchain and fintech have waned, falling from KRW 15.7 billion in 2021 to KRW 3.1 billion in the first half of 2024. The platform and application sector also saw reduced investment volumes, despite an increase in the number of companies receiving funding.
The data reflects a shift in corporate priorities, as South Korea’s major firms pivot toward technologies central to energy transition and future innovation, while pulling back from less promising areas like blockchain.
Ashley Song (ashley@koreabizwire.com)
