Outlook for major sectors in 2nd half

Seoul--(뉴스와이어)--Most of Korea’s major industries are expected to show strong performances in the second half of 2005, fueled by robust exports and a recovery in domestic demand, according to the Ministry of Commerce, Industry and Energy (MOCIE).

The projection was based on a survey that MOCIE conducted on 11 major industries, looking at the nation’s core businesses for the first half of the year and to make forecasts for the rest of the year. The surveyed 11 key industries included semiconductors, electronic appliances, information technology (IT), general machinery, automobiles, shipbuilding, heavy electric machinery, petrochemicals, textiles, cement and steel.

By sectors, shipbuilding, semiconductors, petrochemicals, and general machinery will likely continue to maintain the current growth momentum. The shipbuilding industry is likely to show double-digit growth thanks to innovative manufacturing processes. Production of semiconductors will also rise due to increased domestic demand and growing exports to China and other emerging markets. The petrochemical sector will see an increase in industrial output as newly-built facilities will be in operation soon.

Meanwhile, sectors such as IT, steel, and automobiles are expected to achieve just modest growth in the latter half with a recovery of consumer demand. For textiles which suffered in the first six months of the year, both exports and domestic sales are projected to slightly increase by 0.4% and 4.9% from a year earlier in the second half.

On the other hand, production of heavy electric machines, electronic appliances, and cement is forecast to decline in the second half as domestic consumption in those sectors will likely continue to be sluggish.

웹사이트: http://www.mocie.go.kr

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