Economy Should Be Better Next Year
Automobile, semi-conductor exports and shipbuilding have recently been on the rise while steel and oil refinery production has been decreasing. In general economic indices on the whole will be back on track next year, the government predicted.The Ministry of Commerce, Industry and Energy on November 17 announced that automobile production this year will reach 2.1 million units which is 25.5% less than that of last year, but by 1999 it will rise a further 16.7% to 2.45 million units.
Semi-conductor production will see an increase of 10% in exports to reach 18 billion dollars in 1999. Shipbuilding next year will total 85 million tons in new vessels, up 11.8% over 1998.
General machine production will rise by 2.9% next year.
with the Korea JoongAng Daily
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