The Ministry of Industry of Korea: The top 10 manufacturing industries including chips plan to invest 100 trillion won this year, which is the same as last year

According to Yonhap News Agency, the Korean Ministry of Industry, Trade and Resources held an emergency economic minister meeting and export investment countermeasures meeting on the 3rd to discuss and release cross-departmental support plans for expanding exports and investment.

The Ministry of Industry pointed out that the top 10 Korean manufacturing industries such as chips plan to invest 100 trillion won this year, which is the same as last year. Korean companies in various industries plan to invest 47 trillion won in semiconductors, 16 trillion won in automobiles, 14 trillion won in displays, 8 trillion won in batteries, 4.8 trillion won in steel, 4 trillion won in petrochemicals, and 2 trillion won in shipbuilding. won.

In view of the short-term decline in the price of chips, South Korea's largest export product, it is expected that the performance in the first half of the year may not be optimistic. Due to the slowdown in economic growth and high interest rates, equipment investment turned from positive to negative in the fourth quarter of last year, and exports fell year-on-year for four consecutive months. The trade balance has been in deficit for 11 consecutive months, and the trade deficit was US$12.69 billion last month. However, the Ministry of Industry predicts that exports of automobiles, batteries, shipbuilding and display screens are expected to expand this year, and plans to invest equivalent to 100 trillion won accordingly.