The combined cash reserves of South Korea’s top 10 conglomerates has reached over 125 trillion won ($117 billion), a market observer reported Sunday, representing an apparent improvement in companies’ finances.

According to the report from local market researcher Chaebol.com, the combined cash reserves of the 10 largest businesses here came to 125.41 trillion won as of the end of September, up 15.1 percent from 108.99 trillion won at end-2013.

Cash reserves include cashable assets and money invested in short-term market funds.

The rise in cash reserves may reflect the companies’ improving financial conditions, but it may also mean the companies are declining to make new investments.

The report also comes amid a government move to tax corporate reserves in an effort to spur fresh investments. The move, however, faces strong opposition from political parties, including the ruling Saenuri Party, whose chief lawmaker Kim Moo-sung has publicly said the government’s job is to encourage investment by creating a favorable business environment. (Yonhap)