South Korea’s 30 largest business groups plan to expand both their investment and employment in the second half in an apparent response to the government’s deregulation efforts, the government said Wednesday.

For the entire year of 2013, the top 30 companies plan to invest a combined 155 trillion won ($138.8 billion), up 12.3 percent from 138 trillion won in 2012, according to the Ministry of Trade, Industry and Energy.

The amount also represents a 4 percent increase from 148.8 trillion won planned at the beginning of the year.

“The reason for such an expansion in investment (by private companies) is believed to be the government’s own investment in areas related to the creative economy and the removal of obstacles for the companies as part of government efforts to promote investment,” the ministry said in a press release.

A recent survey of the 30 largest companies showed they also plan to expand their employment from an earlier plan of 127,700 workers to 140,700 workers this year.

Meanwhile, the ministry said the companies invested a total of 61.8 trillion won in the first half, 41.5 percent of the 148.8 trillion won they had initially planned for the entire year, while hiring 78,700 new workers, or 61.7 percent of their initial plan for 2013. (Yonhap News)