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Facility investment to rise 2.2 pct in 2020: KDB

All News 14:26 December 20, 2019

SEOUL, Dec. 20 (Yonhap) -- South Korea's facility investment is expected to rise next year, marking a turnaround from a steady decline over past two years, the state-run Korea Development Bank (KDB) said Friday.

KDB forecast the country's facility investment to reach 169 trillion won (US$145.4 billion) in 2020, up 2.2 percent from this year's estimated 165.3 trillion won.

The amount, however, will still fall far short of 189.8 trillion won posted 2017.

The country's facility investment has since been on a decline amid a steady decline in exports. Facility investment plunged 11.6 percent on-year to 167.7 trillion won in 2018.

"Facility investment by large corporations is expected to increase next year, partly on a base effect," a KDB official said, adding investments by small and medium-sized firms may continue dwindling but the rate of drop will likely slow down.

Facility investment by large companies is estimated to reach 128.7 trillion won in 2020, up 5.5 trillion won from this year.

Investment by smaller firms is projected to reach some 40.3 trillion won, down 1.8 trillion won from this year, according to the bank.

bdk@yna.co.kr
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