Ministry of Trade, Industry and Energy: "Top 1000 Companies' R&D Investment Reaches 72.5 Trillion Won in 2023"

2024-07-30

The Ministry of Trade, Industry and Energy and the Korea Institute for Advancement of
Technology announced that the research and development (R&D) investment of the top 1000
companies in South Korea amounted to 72.5 trillion won (KRW) (approx. 55.7 billion
dollars, USD), marking an 8.7% increase from the previous year. As of March 2024, the top
1000 companies consist of 171 large companies, 491 medium-sized companies, and 338
small compines. The proportion of R&D investment to sales for these companies was 4.4%
in 2023, which is a 0.5% increase from the previous year. Samsung Electronics invested 23.9
trillion won in R&D in 2023, accounting for over one-third of the total R&D investment of
the top 1000 companies in S. Korea. In addition, the companies that invested more than 1
trillion won in R&D last year included Samsung Electronics, Hyundai Motor, SK hynix, LG
Electronics, and 5 other companies. The top 10 companies in 2023 invested a total of 45.5
trillion won in R&D, which represents 62.7% of the total R&D investment of these
companies.

Source: https://www.businesspost.co.kr/BP?command=article_view&num=356429