South Korea’s top 600 companies said in a survey they would invest 129.70trillion won($118.18billion) this year, up 13.9 percent year-on-year. The survey was conducted among the nation’s top 600 companies in terms of sales as of late 2011, excluding financial companies, and recently released by the Federation of Korean Industries(FKI).
The top 600 companies increased facility investment 16.3 percent year-on-year to 106.62 trillion won, and boosted investment in research and development(R&D) 3.6 percent to 23.10 trillion won.
When asked why they decided to invest more, 27.9 percent of respondents said the investment is a proactive move to enhance competitiveness, followed by 19.7 percent who wants to strengthen the development of products and technology and 19.2 percent who targets to enter new business areas including growth engines.
The companies invested 113.90 trillion won in 2012, up 1.9 percent on a yearly basis. The top 600 corporations have been expanding investment plans for the last 10 years except 2009, during the financial crisis, said the FKI. The companies have been investing more despite harsh economic conditions at home and abroad to prepare a growth engine after the financial crisis is over, said the FKI. The nation’s conglomerates are expected to make more investment than their initial targets, resulting in higher employment and a better economy, if the new administration creates an atmosphere favorable for corporate investment,” said a senior official of the FKI.
By Kim Min-su : Here
Korean-Machinery.com 
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