Top 10 S. Korean chemical firms spend 1% of sales revenue on average for R&D in H1
Updated: 2019-08-22 13:20:59 KST
South Korean chemical companies are found to have been less aggressive than firms in other countries in their research and development spending.
According to industry sources, Korea's top 10 chemical firms have spent an average of around one percent of sales revenue on R-and-D in the first half of this year.
That's lower than the sector's global average.
Sources say investment in research and development is crucial for firms to make new materials and reduce Korea's reliance on Japanese materials.