February 12, 2019 10:28
Samsung ranked first among 1,000 global businesses in terms of spending on research and development in 2017, according to a report released by the Korea Institute for Advancement of Technology on Monday.
Samsung edged out German carmaker Volkswagen, which held the top spot from 2013 to 2016. Samsung spent 13.4 billion euros or 7.2 percent of its total sales, lifting it from fourth place in 2016.
Other Korean companies on the list include LG, which placed 53rd with 2.6 billion euros, SK Hynix (67th), Hyundai (73rd) and Kia (118th).
By country, 25 Korean companies spent a combined 26.7 billion euros to rank sixth overall, up one spot from the previous year. The U.S. had the most companies on the list with 319, followed by Japan (153), China (120) and Germany (69).
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