South Korean makers of chips, electronics products and cars are likely to enjoy strong exports in the second half, a survey showed today.
According to the poll taken by the Korea Chamber of Commerce and Industry, prospects for exports in the second half are “very bright” for producers of semiconductors, electronics, ships and machinery.
Carmakers and refiners face “good” prospects for exports, while prospects for textile and petrochemical exports are rather “bad” for the coming half.
Export prospects for domestic steelmakers are “very bad,” the findings indicated.
Exports of computer chips are forecast to jump 25.9% on-year in the second half, while overseas shipments of machinery are predicted to grow 18.4%.
Makers of electronics are projected to increase their exports by 17.1%, with exports of cars likely to grow 8.1%.
Domestic car sales are expected to grow at their highest rate of 19% in the second half. Domestic demand for electronics appliances and machinery is forecast to rise 8.7% and 4.4%, respectively.
Semiconductor output is predicted to jump 20.6% on-year in the second half, while car production is likely to climb 9.7%, the survey said. (Asia Pulse Pte, Ltd.)