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State-run firms' 2012 investment to grow 1.8 pct
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Investment by South Korea's major state-run firms will grow about 2 percent in 2012 as they focus spending on development of natural resources, the finance ministry said Friday.

According to the ministry, which analyzed investment plans laid out by 44 public firms, their combined investment for this year will amount to 68.5 trillion won (US$61.16 billion), up 1.8 percent from a year earlier.

The increase stems mostly from expanded spending plans for natural resources development projects.

The Korea National Oil Corp. and the Korea Gas Corp., for example, will spend 8.1 trillion won and 5.5 trillion won each this year, compared with 5.7 trillion won and 4.3 trillion won unveiled in the previous year.

For the energy sector, in particular, public institutions' investment will grow 21.2 percent on-year in 2012 to 27.4 trillion won, the ministry said.

Their investment on social overhead capital, however, will shrink 10.6 percent to 35.4 trillion won, since major construction works related to the four-river refurbishment project have come to an end.

The public institutions will carry out 55.2 percent of their investment plans during the first half of this year in a bid to help the nation better respond to toughening economic conditions, the ministry added.

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Source: Yonhap News (Feb. 10, 2012)

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