korea's key industries are not expected todo so well in the second half,... due to low oil prices... and a slowdown in the globaleconomy. the lingering threats have prompted some analyststo call for the swift passage of a multi-billion dollar budget supplement. kim min-ji reports.
Offshore Job Korea, korea's core industries are expected to losesteam in the second half of this year. according to the korea development bank,...the prospects for most industries are gloomy,... with the majority expected to post negativegrowth. the sectors most vulnerable are those subjectto the government's corporate restructuring
drive -- namely the shipbuilding and shippingindustries. amid an industry wide slump, the volume oforders for the shipbuilding industry is expected to fall 92 percent this year from a year ago. as a result, the order backlog is expectedto fall over 33 percent,... while exports are projected to fall nearly 17 percent. the outlook for the construction industryisn't much better,... especially because the number of overseas orders has dropped in thewake of the prolonged slump in global oil prices. the display sector could also be facing anuphill battle... as companies step up their
overseas production,... pushing panel pricesdown. on the other hand, the semiconductor and mobilephone sectors both got a "fair" rating on the back of scheduled releases of new techproducts. as for the potential risks in the second half,...analysts point to low oil prices, which show no signs of picking up. korea's benchmark dubai crude has been hoveringat around the 40 u.s. dollar level since the spring. while that's good for some industries,...it hurts the economies of oil-exporting nations, which in turn takes a toll on korea's exportsto those countries,... in addition to putting
a dent in a demand for offshore plants andships -- acting as a drag on the entire economy. on top of that,... a possible rate hike inthe u.s. could also trigger a massive capital outflow from the korean market. analysts say... that for korea to better weatherthe risks,... there needs to be a swift implementation of the government's proposed 10-billion-dollarbudget supplement, which is currently pending at the national assembly. it's aimed at softening the impact of thecorporate restructuring drive... and boosting job creation,... but analysts say a delaycould muffle the desired effects. kim min-ji, arirang news.
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