Most of South Korea’s top 10 family-oriented business conglomerates plan to increase their spending on new plants and equipment next year, despite concern over the continued global economic slump, a poll showed Sunday.
According to the survey by Yonhap News Agency, leading conglomerate Samsung Group and five business groups intend to increase their investment in 2012, with three others moving to cut back on their capital spending.
Although Samsung has yet to finalize its investment for the coming year, the group said it will push for “aggressive investment,” spending more money than this year.
Samsung had planned to spend a record 43 trillion won (US$ 37.4 billion) on facility investments this year, up 18 percent from the previous year.
The group, which has tech behemoth Samsung Electronics Co. under its wing, is widely expected to spend big on the upgrading of its semiconductor and liquid crystal display lines as well as its health care business.
Hyundai Motor Group plans to increase its capital spending next year from this year, while abstaining from seeking excessive expansion due to an expected drop in demand. The world’s fifth-largest automaker’s facility investment clocked in at 11.8 trillion won this year.
Hyundai Motor Group is projected to inject a large amount of money into the development of eco-friendly vehicles and the construction of plants in China and Brazil.
SK Group, which recently agreed to buy Hynix Semiconductor Inc., is forecast to invest more than 15 trillion won in the coming year, up over 50 percent from this year.