Responding to Japan’s trade restrictions South Korea’s big enterprises to increase research and development investment

BEIJING, March 25 (Xinhua) — Research and development spending by south Korean companies increased by nearly 4 trillion won (about 24.1 billion yuan) in the first three quarters of this year from a year earlier, according to a data released Wednesday by Score, the CEO of South Korea’s business assessment agency, Yonhap reported.

Responding to Japan's trade restrictions South Korea's big enterprises to increase research and development investment

Data show that a total of 211 of South Korea’s top 500 companies disclosed this year’s research and development expenses, a total of 39.2274 trillion won. During the same period, sales of top 500 companies decreased from 1265.0287 trillion won to 1254.9629 trillion won, but the share of research and development expenses in sales increased from 2.79 percent to 3.13 percent.

In terms of the proportion of research and development spending by major companies, the portal NAVER accounted for the highest share, at 25.96 per cent, with Celltrion coming in second with 25.57 per cent. This was followed by Netmarble, Korea-Us Pharmaceuticals, gaming company NC Soft, Kakao, Big Bear Pharmaceuticals, Zhong Gentang,SK Hynix and Green Cross. Samsung Electronics was ranked 16th with 8.97 percent.

In terms of the industry, the pharmaceutical industry was 13.16%, followed by information communications and power electronics, services, automotive and parts, shipbuilding and machinery and equipment. The lower-ranked petrochemical, state-owned enterprises, construction, food, steel, transportation, circulation and other industries are less than 1%.

In addition, the company with the largest research and development expenses was Samsung Electronics, which invested 15.2877 trillion won in the first three quarters of this year, up 14.6% year-on-year. LG Electronics,SK Hynix, Hyundai Motor, LG Display, NAVER, Kia Motors are all more than 1 trillion won.

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