The combined amount of reserve assets held by South Korea’s top 10 conglomerates surged in the first half of the year from end-2010, data showed Wednesday, apparently as they reduced investment amid the economic slump.

The country’s 82 listed firms under the top 10 business groups saw their internal reserves reach 477 trillion won ($452 million) at end-June, up 43.9 percent from 331 trillion won tallied at end-2010, according to the data by market researcher CEO Score.

The internal reserves refer to a company’s capital surplus, excluding tax payments and dividends, that is kept for future potential investments. A higher number indicates an improvement in a firm’s financial health.

Market watchers said, however, the rise also indicates that the tallied firms have been reluctant to make new investments, apparently as the prolonged economic slump weighed on their business sentiment.

Samsung Group, which has the world’s No. 1 smartphone maker Samsung Electronics Co. under its wing, saw its internal reserve rise 50.1 percent to reach 162.1 trillion won at end-June, the data showed. (Yonhap News)