Korean Industrial Outlook for the Second Half of 2024

Economic Outlook and Statistical Analysis Division ()
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Economic Outlook and Statistical Analysis Division: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 24-12, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: In the second half of 2024 (H2 2024), despite macroeconomic and geopoliticaluncertainties and an intensifying protectionist sentiment worldwide,Korea’s 13 flagship industries are expected to continue seeing high exportgrowth driven by strong global IT demand and an uptick in domestic andinternational investment, with improvements also anticipated in domesticdemand and production. Overall, robust growth in several IT subsectors isexpected, including semiconductors, information and communication devices(ICT), and biotech, as well as in the shipbuilding industry. The automotiveindustry should continue flying high, while growth in other major segments such as petrochemicals and steel looks to remain flat. The slope of the declinein the battery industry (for which indicators show signs of contraction) shouldtaper off in the second half of the year. Thank you for reading this abstract of a paper by the Korea Institute for Industrial Economics and Trade! We are South Korea's premier think tank studying the nexus where trade and industry intersect. http://www.kiet.re.kr/en https://www.ssrn.com/index.cfm/en/korea-inst-industrial-econ-trade-res/

Keywords: H2 2024 outlook; industrial; industrial outlook; Korean economy; economic outlook; economic forecasting; Korea; KIET (search for similar items in EconPapers)
JEL-codes: E60 E66 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2024-05-31
New Economics Papers: this item is included in nep-inv
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