Almost half of South Korean conglomerates have planned to reduce investment this year. A survey conducted by the state-run Korean International Trade Association showed that more than four out of 10 companies plan to cut back on their investment both at home and abroad this year amid a global economic slowdown and worsening market conditions. According to the survey, 47% of 1,327 companies having overseas sales of USD500,000 or more last year forecast that business circumstances will deteriorate this year. Only some 16.9% of the respondents expected a turnaround. Given such a gloomy outlook, 29.5% of the companies decided to reduce investment at home in the New Year, and 27.5% to slash overseas investment. Of large-sized companies, 43% said they will scale down their investment both at home and abroad.