[MONITOR] Companies see net profit rise, reduce R&D costs

Last year’s drop in international oil prices has led to a drop in South Korean businesses’ decline in sales, but a raise in net profits, data by Statistics Korea showed.

The businesses, however, reduced research and development investment amid heightened concerns of a downward economy.

The data showed that as of 2015, the number of companies with 50 or more permanent employees and capital of 300 million won ($255,000) or over surged by 0.3 percent from the previous year to 12,460.