The top three conglomerates spent 26.36 trillion won in investments up to September this year, equal to 58.2 percent of the total by 30 business groups. The amount, however, is 33.5 percent down from last year, according to the tally. (image: KobizMedia/ Korea Bizwire)
SEOUL, Nov. 15 (Korea Bizwire) – Investments by the top 30 conglomerates this year up to the third quarter showed a 24 percent drop compared to the same period last year, a tally from a corporate tracker showed Tuesday.
The 30 business groups, who control 257 affiliates, invested 45.33 trillion won (US$38.83 billion) on tangible and intangible assets in the January-September period, a fall from 59.64 trillion won of the same months last year, according to CEO Score.
Of the 14.31 trillion won difference, 92.7 percent of the amount was due to the holdback by the top three players — Samsung, Hyundai Motor and SK — whose investment drop together exceeded 10 trillion won.
The tally said 18 of the top 30 conglomerates lessened their investments this year. Harder hit were investments in physical assets, such as facilities, which fell 26.9 percent to 39.73 trillion won from 54.34 trillion won last year. Investments in intangible assets slightly rose, up 5.6 percent to 5.59 trillion won from 5.29 trillion won.
The top three conglomerates spent 26.36 trillion won in investments up to September this year, equal to 58.2 percent of the total by 30 business groups. The amount, however, is 33.5 percent down from last year, according to the tally.
Hyundai Motor withdrew the most with a 9.43-trillion-won drop, a fall of 61.8 percent. Samsung was second with 2.21 trillion won for a 13.5 percent drop.
SK lessened its investment by 1.81 trillion won for a 19.2 percent drop.
LG showed the biggest investment increase during the period, up 326.8 billion won or 6.3 percent.
Lotte, Doosan, CJ, Hanwha and S-Oil also raised their investments, the tally showed.
(Yonhap)
