Research spending by major firms rise 9.9 pct in Q1

SEOUL, June 9 (Yonhap) -- Combined research spending by South Korea's top 10
companies in terms of revenue rose 9.9 percent in the first-quarter of this year,
despite a global economic slump, a business lobby group said Tuesday.
The big companies spent a total of 3.1 trillion won (US$2.4 billion) in the
January-March period, compared with 2.8 trillion won for the same period a year
ago, the Federation of Korean Industries said in a statement.
"The increased spending showed that big companies are preparing to cope with a
time when the global slump is over," the statement said, without identifying the
names of the companies.
To bolster corporate investment, the federation urged the government to offer
more tax incentives. Currently, companies making capital investments are eligible
to corporate tax deductions equivalent to seven percent of the investment.
(END)