"7 out of 10 large companies, investment plans or undecided next year"

Amid economic conditions at home and abroad, seven out of 10 large companies do not have or have yet to establish investment plans for next year.

According to a survey of the top 500 companies in sales by the Korea Business Association, 57% failed to plan investment for next year, and 11% said they had no investment plans.

The biggest reason for not making an investment plan was reorganization and personnel change, followed by answers that identifying the impact of internal and external risks was a priority and unclear economic outlook at home and abroad next year.

In addition, even if the investment plan was established, 28% of respondents said it would be lower than this year, compared to 13% who said it would increase.

At the same time, 43% of companies cited a slowdown in the global economy as a risk factor to affect investment, and they were also concerned about high exchange rates, inflationary pressures and the spread of protectionism.

The Korea Economic Association said that business investment has been the key to overcoming the crisis whenever the economy is in trouble, but companies have not gained momentum to expand their investment recently, and that it needs to avoid discussing amendments to the commercial law, which adds to management uncertainty, and attract investment with bold benefits.