ID :
195493
Mon, 07/18/2011 - 07:31
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Shortlink :
https://oananews.org//node/195493
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Listed firms' capital spending more than triples in H1
SEOUL, July 18 (Yonhap) -- South Korean listed firms' facility investment more than tripled in the first half from a year earlier, the bourse operator said Monday, amid the country's solid economic recovery.
Companies listed on the main and secondary tech-laden stock markets spent 23.4 trillion won (US$22 billion) on new plants and equipment in the January-June period, up 261.2 percent from the previous year, according to the Korea Exchange (KRX).
Compared to the second half of last year, their capital expenditures also jumped 154.8 percent.
Companies listed on the main bourse spent 22.8 trillion won on facility investment in the six-month period, up 282.7 percent from the previous year, it added.
Hyundai Steel Co., the country's No. 2 steelmaker, spent the largest amount of 3.26 trillion won, followed by flat panel giant LG Display with 2.44 trillion won and top air carrier Korean Air with 2.4 trillion won, the KRX noted.
The surge in corporate capital expenditures comes as the South Korean economy is on a sold recovery track, bolstered mainly by brisk exports. In the first half, the economy, Asia's fourth-largest, expanded 3.8 percent from a year earlier, led by sustained exports, which rose 15.3 percent from a year earlier.
Companies listed on the main and secondary tech-laden stock markets spent 23.4 trillion won (US$22 billion) on new plants and equipment in the January-June period, up 261.2 percent from the previous year, according to the Korea Exchange (KRX).
Compared to the second half of last year, their capital expenditures also jumped 154.8 percent.
Companies listed on the main bourse spent 22.8 trillion won on facility investment in the six-month period, up 282.7 percent from the previous year, it added.
Hyundai Steel Co., the country's No. 2 steelmaker, spent the largest amount of 3.26 trillion won, followed by flat panel giant LG Display with 2.44 trillion won and top air carrier Korean Air with 2.4 trillion won, the KRX noted.
The surge in corporate capital expenditures comes as the South Korean economy is on a sold recovery track, bolstered mainly by brisk exports. In the first half, the economy, Asia's fourth-largest, expanded 3.8 percent from a year earlier, led by sustained exports, which rose 15.3 percent from a year earlier.
