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Top 30 firms' investments fall 17 pct in Jan.-Sept. period

All Headlines 10:02 November 17, 2019

SEOUL, Nov. 17 (Yonhap) -- The value of investments by South Korea's top 30 conglomerates fell 17 percent in the January-September period from a year earlier, a market research firm said Sunday.

The conglomerates invested a combined 54.33 trillion won (US$46.6 billion) in the first nine months, down from 65.17 trillion won in the year-ago period, CEO Score said in a statement.

"The decline in investment is mainly attributable to decreased spending in the semiconductors and display sectors amid a slowing global economy," the statement said.

In the past several years, Samsung Electronics Co., SK hynix Inc. and LG Display Co. made some investments in their facilities, but they reduced their facility investments, it said.

Samsung Group's overall investments plunged 29 percent on-year to 14.64 trillion won in the nine-month period, while SK Group's investments fell 19 percent to 12.05 trillion won and LG Group's dropped 22 percent to 7.94 trillion won, the statement said.

Top 30 firms' investments fall 17 pct in Jan.-Sept. period - 1

kyongae.choi@yna.co.kr
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