MOICE Forecasts Production Trends for This YearThe Ministry of Industry, Commerce and Energy (MOICE) forecasted that production of cars, ships and information and telecommunication products will increase at a double-digit pace this year.
According to MOICE, on January 27, petrochemicals, textiles and precision chemicals will show a small increase this year.
General machinery and semiconductors are forecasted to grow by 6~7 percent.
Whereas, production in the steel and consumer electronics industries are forecasted to decrease.
MOICE predicted that steel exports will decline by 16.3 percent and overall production will drop 3.7 percent while consumer electronics companies will be forced to lower production by 3.1 percent.
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