The facility investment of South Korean manufacturers is expected to grow slightly in the second half of the year thanks to their plans to improve superannuated facilities, a poll showed Wednesday.
According to the survey of 1,000 manufacturers by the Korea Chamber of Commerce and Industry, 34.4 percent of the respondents said that they will increase their capital spending to improve superannuated facilities in the second half of the year compared with a year ago, while 22.2 percent said they will cut their investments due to economic uncertainties.
Nearly 43 percent of the companies polled said they will keep their investments at the same level as the second half of 2012.
“Due to mounting uncertainties in the global economy from the Fed’s easy-money policy and the unstable situation in the Chinese economy, companies are expected to implement their investment plan cautiously,” the KCCI said.
By sector, automobile makers, refiners and petrochemicals producers are forecast to increase their investments in the June-December period, but shipbuilders and machinery makers’ capital spending is likely to slow down, the KCCI said. (Yonhap News)
