ID :
69176
Sun, 07/05/2009 - 22:22
Auther :
Shortlink :
https://oananews.org//node/69176
The shortlink copeid
S. Korean chip, shipbuilding sectors to fare well in H2: report
SEOUL, July 5 (Yonhap) -- South Korea's semiconductor and shipbuilding industries
are expected to perform well in the second half of this year, while auto,
machinery and steel sectors likely to remain sluggish, a report said Sunday.
According to the report by the Korea Chamber of Commerce and Industry (KCCI), the
chip industry's exports are expected to reach US$17.4 billion during the
July-December period thanks to growing demand and higher prices.
"Prices of memory chips have been on the rise since November, and demand is
forecast to increase in the second half as Taiwanese rivals have started to
restructure their operations," KCCI said.
According to the report, the shipbuilding industry will also be able to post good
performances as overseas orders for high-end vessels are expected to resume in
the second half.
However, the auto sector is predicted to suffer setbacks in domestic demand,
overseas shipments and production because of high oil prices and the June expiry
of reduced consumption taxes for automobiles.
Domestic vehicle sales are expected to fall 3.3 percent, or 18,000 units, in the
second half from a year earlier, with exports tumbling 21.7 percent on-year to
980,000 vehicles.
Output, domestic demand and exports of machinery are likely to drop at
double-digit rates in the second half from a year earlier.
Due to a prolonged economic slump, output, domestic demand and exports of the
steel industry are shrink 7.3 percent, 15.3 percent and 6 percent, respectively,
in the second half.
The report said the performance of the construction sector is expected to improve
slightly in the second half on the back of a massive government project to
refurbish the country's four major rivers.
Construction orders are estimated to grow an annual 4.8 percent to 68 trillion
won ($53.6 billion) in the July-December period, with public orders reaching 25.5
trillion won, it said.
The government recently announced it would spend a total of 22 trillion won until
2012 to make the rivers cleaner and prevent flooding around the river basins.
(END)
are expected to perform well in the second half of this year, while auto,
machinery and steel sectors likely to remain sluggish, a report said Sunday.
According to the report by the Korea Chamber of Commerce and Industry (KCCI), the
chip industry's exports are expected to reach US$17.4 billion during the
July-December period thanks to growing demand and higher prices.
"Prices of memory chips have been on the rise since November, and demand is
forecast to increase in the second half as Taiwanese rivals have started to
restructure their operations," KCCI said.
According to the report, the shipbuilding industry will also be able to post good
performances as overseas orders for high-end vessels are expected to resume in
the second half.
However, the auto sector is predicted to suffer setbacks in domestic demand,
overseas shipments and production because of high oil prices and the June expiry
of reduced consumption taxes for automobiles.
Domestic vehicle sales are expected to fall 3.3 percent, or 18,000 units, in the
second half from a year earlier, with exports tumbling 21.7 percent on-year to
980,000 vehicles.
Output, domestic demand and exports of machinery are likely to drop at
double-digit rates in the second half from a year earlier.
Due to a prolonged economic slump, output, domestic demand and exports of the
steel industry are shrink 7.3 percent, 15.3 percent and 6 percent, respectively,
in the second half.
The report said the performance of the construction sector is expected to improve
slightly in the second half on the back of a massive government project to
refurbish the country's four major rivers.
Construction orders are estimated to grow an annual 4.8 percent to 68 trillion
won ($53.6 billion) in the July-December period, with public orders reaching 25.5
trillion won, it said.
The government recently announced it would spend a total of 22 trillion won until
2012 to make the rivers cleaner and prevent flooding around the river basins.
(END)
