April 19, 2024
Economy
Corporate R&D investments to grow 2.5% this year
[THE INVESTOR] South Korean companies are expected to increase their investment in research and development this year, a survey by a local think tank showed on Mar. 8.
According to the Korea Industrial Technology Association (KOITA), 1,000 firms surveyed said they will increase their R&D investment by an average of 2.5 percent compared to the year before.
Based on the outcome of the survey, KOITA said the total R&D spending by the companies could reach about 51.6 trillion won (US$45 billion).
The KOITA report said R&D spending by large companies is expected to reach 34 trillion won, up 2 percent from 2016, while investment by small and midsized firms is expected to jump by some 3.4 percent on-year to 12 trillion won.
(theinvestor@heraldcorp.com)
According to the Korea Industrial Technology Association (KOITA), 1,000 firms surveyed said they will increase their R&D investment by an average of 2.5 percent compared to the year before.
Based on the outcome of the survey, KOITA said the total R&D spending by the companies could reach about 51.6 trillion won (US$45 billion).
The KOITA report said R&D spending by large companies is expected to reach 34 trillion won, up 2 percent from 2016, while investment by small and midsized firms is expected to jump by some 3.4 percent on-year to 12 trillion won.
(theinvestor@heraldcorp.com)
