Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (45438)	4/16/2001 5:21:34 PM
From: Proud_Infidel	Read Replies (2) \| Respond to of 70976

Korean Firms to Increase IT Investments Despite Global Recession April 16, 2001 (SEOUL) -- Despite a slowing global economy and speculation of a bubble in the world's dot.com companies, local corporations are nonetheless pushing to expand investments in the IT sector. Within this year, the nation's top 200 companies in the manufacturing, financing and e-commerce sectors plan on increasing IT investments by 27 percent to a combined 2.82 trillion won on an annual comparison, according to a survey released by the Ministry of Commerce, Industry and Energy. This amount is nearly triple the level of forecasts released by IDC, an international market research institution, and other economic research institutions. Nearly all sectors excluding chip and shipping expected a rise in profits and stated that they were willing to induce aggressive management strategies to expand IT investments this year. LG Electronics said that it plans to expand IT investments to 210 billion won this year, while POSCO, KEPCO and Hyundai Motors Co. answered that they planned to inject a respective 123.2 billion won, 119.5 billion won and 62.4 billion won into the development of IT technologies. (1324.30 won = US$1) (Maeil Business Newspaper, Korea)