S. Korean corporate R&D spending up 14 pct in 2007

SEOUL, Nov. 24 (Yonhap) -- South Korean companies' spending on research and development activities increased 14 percent in 2007 from a year earlier, a government report showed Monday.

According to the report by the National Statistical Office, local companies spent
a total of 24 trillion won (US$16 billion) on R&D last year, compared with 21
trillion won a year earlier.
Utility providers were the biggest spenders -- pumping 18 billion won on average
into improving future business performance and returns -- followed by financial
companies, according to the survey conducted on firms with workers of 50 or more
and paid-in capital of over 3 million won.
Meanwhile, the companies earned 69 won for goods or services worth 1,000 won last
year, compared with a profit of 63 won a year ago, according to the statistics
agency.