Semicon. and Car Exports Will Do Well, But Not Steel and Textiles In 1999

Semiconductor and Car exports will be strong, but those of telecommunications and steel are not expected to do very well next year.
According to the Samsung Economic Research Institute (SERI) on October 28, the total exports for next year are estimated to reach 136 billion dollars, a 2% increase over this year.
SERI analysed that the proper level of the exchange rate for Korea's main industries to reach a break even point would be in the range of 1,333~1,403 won against the U.S. dollar. The level is a little bit higher than the current one. In other words, there is a need for the Korean won to devaluate.
SERI predicted that the break even point in exchange rates for each industry would be as follows: Steel 1,333 won, Consumer Electronics 1,344 won, Petrochemical 1,351, Semiconductor 1,360, Shipbuilding 1,386, Textiles 1,401 and Automobiles 1,403.