Difficulties to continue for major Korean industries: FKI

[THE INVESTOR] Most of Korea’s key industries will continue to face difficulties in the second half of the year, the largest business group in Korea said on June 16.

In a seminar organized by the Federation of Korean Industries, participants projected that the conditions are unlikely to improve significantly in the second half with the exception of construction and petrochemical industries. 

According to FKI’s projections, the shipbuilding industry -- hit hard by lack of orders even for the three largest firms -- will continue to face adverse conditions.

In contrast, the business lobby said that construction and petrochemical industries are likely to continue to enjoy favorable conditions.

For the automotive industry, mixed conditions were projected for the final six months of the year. Slowing sales in emerging markets, and taxes were cited as negative elements. Potential positive factors included changing environmental and safety regulations.

The electronics industry was projected to struggle despite the fall in materials and marketing costs due to the slowing rate of innovation in the field.

By Choi He-suk (cheesuk@heraldcorp.com)