Korea: Shipbuilding to Improve

Source:Asiasis
2013.01.09
799

The Korea Institute for Industrial Economics & Trade prospected that shipbuilding, information and telecommunication devices, petrochemistry and textile markets would be improved this year.
General machinery, semiconductor and display markets are expected to keep being favorable, while automobile, steel and home electronic would keep struggling.
Ship exported in 2012 declined by 29.8% year-on-year to $39.74bn, however, ship export is projected to increase to $41.73bn this year, up by 4% on 2012.
One researcher from the institute said "Although shipbuilding market seems to see another year of depression, delayed newbuildings are to be delivered with global economy being mildly recovered."
Meanwhile, the Korean institute suggested recent 'Weak Yen' phenomenon had different effects on each industry. According to its latest report, weak yen would decline Korea's exports in automobile, steel, textile, etc., while shipbuilding industry would have no big effect by time gap between new order and export.

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