Investment in facilities by Korean companies more than doubles to $39.4 billion in 2024.

Quick Summary:

According to the Financial Supervisory Service, 37 large companies, including SK Hynix Inc., Hyundai Motor Co., LG Electronics Inc.Korean Air Lines Co., Hyundai Steel Co.and Lotte Shopping Co., announced through public disclosures a combined 53.37 trillion won ($39.4 billion) in 2024 facility investment and asset purchases from Jan.1 through April 7.

Hyundai Motor and Kia, Korea’s two largest automakers, plan to spend a combined 15.84 trillion won this year to build facilities for next-generation cars, including purpose-built vehicles (PBVs).

Hyundai Motor came in second with 12.52 trillion won, followed by SK Hynix’s 5.2 trillion won, LG Electronics with 4.38 trillion won, Kia Corp.’s 3.32 trillion won, Hyundai Mobis Co.’s 3.18 trillion won, Hyundai Steel’s 2.05 trillion won, EcoPro Materials Co.’s 957.3 billion won and NCSOFT Corp.’s 580 billion won.

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Article Details

Category: Economy

Markets: South KoreaIndia

Topics: Trillion Companies Investment Share Billion Korean Spend Hyundai Value Facilities Materials

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-08 @ 11:27:39 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 559 words

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Sentences: 26 lines

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Copyright Owner: © Korea Economic Daily

News ID: 20631915

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