Mergers and acquisitions by South Korean firms decreased 7.7 percent in 2022 from a year earlier amid economic uncertainties, data showed.

The number of mergers came to 1,027 cases last year, down from 1,113 cases tallied in 2021, according to the Fair Trade Commission. They were valued at 325.5 trillion won ($245.9 billion), down 6.7 percent over the period.

It marked the first time since 2016 for the number of M&As to decrease on-year. The figure, meanwhile, still hovered above 1,000 for the second consecutive year.

M&A projects led by South Korean firms accounted for 876 cases, or 58 trillion won. Of them, 263 cases were carried out by conglomerates. (Yonhap)