Investment by companies affiliated with South Korea’s 30 major business groups shrank by 28 percent in the first half of this year from a year earlier.

According to data by research firm CEO Score on Wednesday, 267 companies affiliated with the country’s 30 leading business groups invested a total of 28-point-eight billion won in the January to June period, down 28 percent year-on-year.

Sixteen of the 30 groups decreased their investment.

The top four business groups—Samsung, Hyundai Motor, SK and LG—slashed their investments by more than ten trillion won, accounting for 98 percent of the combined investment cuts for the 30 groups.

Hyundai Motor Group reduced its investment by six trillion won in the first half, the largest cut among the 30, followed by Samsung, SK and LG.