Korea`s corporate investment to fall 30 pct: poll

By Nam Kwang-sik
SEOUL, Feb. 12 (Yonhap) -- South Korean manufacturers plan to decrease their
capital spending by an average of about 30 percent this year due mainly to
sluggish domestic demand, a poll showed Thursday.
According to the survey of 1,000 manufacturers by the Korea Chamber of Commerce
and Industry (KCCI), their investment is predicted to tumble 29.5 percent
on-year. The total amount of planned investment was not disclosed.
Faltering domestic demand was cited as the top reason for the cuts. Other reasons
include slumping exports and cash shortages, KCCI said.
"Stung by the economic downturn both at home and abroad, corporate investment
confidence has fallen dramatically," it said.
According to the findings, investments by big companies are expected to sink 25.8
percent in 2009 from a year ago, with those by smaller companies likely to tumble
31.5 percent.
ksnam@yna.co.kr
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