Major South Korean companies raised R&D spending to a record 72.5 trillion won in 2023, with Samsung leading at 23.9 trillion won.

Major South Korean companies increased R&D spending to a record high of 72.5 trillion won ($52.12bn) in 2023, up 8.7% from the previous year, despite a 2.8% drop in sales amid economic slowdown. Samsung led R&D investments with 23.9 trillion won, a 14.4% increase from the previous year, accounting for 32.9% of the total. Hyundai Motor ranked second with 3.7 trillion won in R&D spending.

June 23, 2024
3 Articles